Procter & Gamble (P&G) has reported net sales of $20.2bn up 1% year-on-year in its Q3 fiscal year 2024 results, as it reports “strong earnings growth despite multiple headwinds.”
Between January – March 2024, organic sales increased 3% and was driven by a 3% increase from higher pricing. Net earnings were $3.8bn for the quarter.
In the company’s Family Care segment – which includes toilet tissue, facial tissues, and paper towels – organic sales increased low single digits due to volume growth, which the company said was partially offset by unfavourable product mix.
Jon Moeller, Chairman of the Board, President and Chief Executive, said: “We delivered solid sales and strong earnings growth in the third quarter despite multiple headwinds, enabling us to raise our EPS growth guidance and maintain our top-line outlook for the fiscal year.
“We remain committed to our integrated strategy of a focused product portfolio of daily use categories where performance drives brand choice, superiority — across product performance, packaging, brand communication, retail execution and consumer and customer value — productivity, constructive disruption and an agile and accountable organization.
“We are increasing investments in superiority to drive market growth and sustain strong momentum.
“We have confidence this remains the right strategy to deliver balanced growth and value creation.”
