Procter & Gamble reported fiscal first-quarter earnings of $2.00 per share, surpassing analysts' expectations of $1.88, with revenue reaching $23.3 billion compared to the anticipated $22.8 billion. The company's net income was $4.73 billion, slightly down from $4.75 billion a year earlier.
Notably, P&G experienced a 4% increase in net sales and a 2.4% rise in volume, indicating a solid start to the fiscal year. The fabric and home care division, which includes popular brands like Tide and Febreze, was the standout performer with a 4.3% volume increase. However, the grooming division, which includes Gillette, saw a slight volume decline of 0.4%.
The health care segment faced challenges, with a 2.9% drop in volume due to reduced demand for oral and personal health care products. Despite these mixed results, CEO Shailesh Jejurikar expressed confidence in meeting the company's guidance amid ongoing geopolitical and economic challenges.
For fiscal 2027, P&G reaffirmed its core earnings per share forecast of $6.89 to $7.11 and adjusted its sales growth outlook to 2% to 4%, up from the previous estimate of 1% to 3%, partly due to its recent acquisition of Thorne, a vitamin company