Procter & Gamble on Thursday reported quarterly profits and revenue that beat analysts’ expectations, fueled by growing demand for its laundry and household cleaning products.
Shares of the company rose more than 2% in premarket trading.
Here’s what the company reported compared to what Wall Street expected, based on a survey of analysts by LSEG:
- Earnings per share: $2.00 adjusted vs. $1.88 expected
- Income: $23.3 billion versus $22.8 billion expected
P&G reported first-quarter net income attributable to the company of $4.73 billion, or $1.97 per share, down from $4.75 billion, or $1.95 per share, a year earlier.
Excluding restructuring costs and other items, the company earned $2 per share.
Net sales rose 4% to $23.3 billion.
P&G reported volume growth of 2.4%, a good start to its new fiscal year. Like many consumer companies, P&G has seen demand for its products falter as buyers have become more value conscious.
Executives have previously said consumers now use every last drop of shampoo or laundry detergent, and value packs have become more popular. In fiscal 2026, P&G saw just a quarter of volume growth.
P&G’s best-performing division was fabrics and home care, which includes brands like Tide and Febreze. Segment volume increased 4.3% in the quarter.
The company’s baby care, feminine and family care segment as well as the beauty business both recorded volume growth of more than 2%.
P&G’s grooming division saw volume decline 0.4% during the quarter. The segment includes Gillette and Venus razors.
The company’s healthcare business lagged the portfolio this quarter. Its volume fell 2.9% as demand for oral health products, like Crest toothpaste, and personal health care items, like Pepto-Bismol, declined.
The company expects continued “geopolitical and economic challenges,” but P&G is on track to meet its guidance, CEO Shailesh Jejurikar said in a statement.
For fiscal 2027, P&G reiterated its guidance for basic earnings per share of between $6.89 and $7.11. The company now expects overall sales growth of between 2% and 4% year-over-year, up from its previous forecast of 1% to 3%. This change reflects the acquisition of vitamin company Thorne, completed on October 1.
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