Procter & Gamble Q1 organic sales growth hits 4 percent

Procter & Gamble reported first-quarter organic revenue growth of 4 percent, a figure that outpaced the 1.96 percent expected by analysts. The company posted net sales of $23.28 billion, exceeding the $22.82 billion estimate, while core earnings per share came in at $2.00 compared to the predicted $1.89. Gross margin stood at 49.8 percent, slightly below the 50 percent estimate.

Segment performance showed broad strength against expectations. Fabric & Home Care organic sales rose 4.8 percent, double the 2.35 percent estimate. The Baby, Feminine & Family Care division grew organic sales by 3 percent, well above the 0.99 percent forecast. Health Care organic sales increased 2.7 percent against a 2.51 percent estimate, while Beauty organic sales jumped 5.4 percent to beat the 3.58 percent expectation. Grooming organic sales climbed 4.5 percent, significantly surpassing the 0.7 percent estimate.

The company maintained its full-year outlook, projecting core earnings per share of $6.89 to $7.11, a range that brackets the $6.98 estimate. It continues to forecast full-year organic revenue growth of 1 to 3 percent, against an estimate of 2.19 percent, and expects core earnings per share growth of 0 to 3 percent.