P&G Announces First Quarter FY’23 Results
Execution of our integrated strategies continued to yield good results in the first quarter and provided a solid start to the fiscal year.
Organic sales growth was broad-based across categories and regions, with all 10 of our product categories growing organic sales, Focus Markets growing 4%, and Enterprise Markets growing 16%.
We maintained market share globally, growing or holding share across a majority of our top 50 category/country combinations. And on the bottom line, core earnings per share were $1.57, down 2% versus the prior year, and up 7% on a currency-neutral basis.
“We delivered solid results in our first quarter of fiscal 2023 in a very difficult cost and operating environment,” said Jon Moeller, Chairman of the Board, President and Chief Executive Officer. “These results enable us to maintain our guidance ranges for organic sales and EPS growth for the fiscal year despite continued significant headwinds. We remain committed to our integrated strategies of a focused product portfolio, superiority, productivity, constructive disruption and an agile and accountable organization structure. These strategies have enabled us to build and sustain strong momentum. They remain the right strategies to navigate through the near-term challenges we’re facing and continue to deliver balanced growth and value creation.”
Consumers around the world want brands that perform their job to be done well and deliver great value. We aim to deliver both, offering truly superior value through a combination of price, product performance and usage experience to serve consumers and earn their loyalty every day.
See www.pginvestor.com/event for P&G's full Q1 FY’23 earnings release issued October 19, 2022, the associated webcast presentation, definitions of non-GAAP measures and reconciliation to the most closely related GAAP measure, as well as cautionary information on forward-looking statements, which are based on current assumptions and subject to risks and uncertainties that may cause actual results to differ materially.