Today P&G reported strong results for the third quarter.
- Net Sales +7%; Organic Sales up 10%;
- Diluted and Core EPS both $1.33, +6%
These strong Company results are grounded in broad-based category and geographic strength. Each of our 10 product categories grew organic sales in the quarter. Organic sales were up 11% in the U.S., up 12% in Enterprise markets, and up 9% in Focus markets.
The Company also showed sequential earnings growth in the face of significant - and still increasing - cost headwinds.
Consumers continue to prefer P&G brands and the superior performance they provide as inflation continues to impact household budgets. Our superiority strategy continues to generate market growth in our categories, as well as share growth for P&G as consumers gravitate toward the value our products provide.
“We delivered another quarter with strong sales growth and made sequential earnings growth progress despite significant and increasing cost headwinds,” said Jon Moeller, President and Chief Executive Officer. “These results enable us to raise our top-line growth outlook for the fiscal year and to maintain our EPS guidance range. Our focus remains on the strategies of superiority, productivity, constructive disruption and continually improving P&G’s organization and culture. These strategies have enabled us to build and sustain strong momentum. They remain the right strategies to manage through the near-term cost and operational challenges we’re facing and to deliver long-term balanced growth and value creation.”
For a deeper dive into the numbers: https://news.pg.com/news-releases/news-details/2022/PG-Announces-Fiscal-Year-2022-Third-Quarter-Results/default.aspx Slides with more detail and the webcast replay of earnings results are available at www.pginvestor.com/event.
See www.pginvestor.com/event for P&G's full Q3 earnings release issued April 20, 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.