P&G Announces Second Quarter FY’23 Results

Our integrated strategies continued to yield good results in the second quarter of the Company’s 2023 fiscal year. Organic sales growth was broad-based across categories and regions, with all 10 of our product categories growing or holding organic sales, Focus Markets growing 3% – with the U.S. up 6% – and Enterprise Markets growing 14%.

We maintained market share globally and in the U.S., growing or holding value share across a majority of our top 50 category/country combinations. And in the U.S. we grew our volume share by half a percentage point as consumers continue to choose P&G products. On the bottom line, core earnings per share were $1.59, down 4% versus the prior year, and up 5% on a currency-neutral basis.

“We delivered solid results in the second quarter of fiscal year 2023 in what continues to be a very difficult cost and operating environment,” said Jon Moeller, Chairman of the Board, President and Chief Executive Officer. “Progress against our plan fiscal year to date enables us to raise our sales growth outlook for fiscal 2023 and maintain our guidance range for EPS growth despite 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, investing to deliver superior value as a combination of price, product performance and usage experience, in every category and at every price point where we compete.

For a deeper dive into the numbers, click here. Slides with more detail and the webcast replay of earnings results are available at www.pginvestor.com/event.