P&G Announces Third Quarter FY’23 Results

Today P&G reported results for the third quarter of the 2023 fiscal year, and our integrated strategies supported strong results.

P&G Results for Third Quarter of Fiscal Year 2023

Organic sales growth was broad-based across categories and regions, with all 10 of our product categories growing organic sales. Focus Markets grew 5%, with the U.S. up 6% including modest unit volume growth. Enterprise Markets grew 15%, and this was the fourth consecutive quarter in which all five of our sectors grew organic sales double-digits in Enterprise markets.

Q3 2023 Organic Sales

Global aggregate value share was in-line with prior year, with 30 of our top 50 category/country combinations holding or growing share. In the U.S., all-outlet value share was up 40 basis points versus prior year, with 8 of 10 categories holding or growing share in the quarter. And U.S. volume share was up 90 basis points versus the prior year quarter as consumers continue to choose P&G products.

Q3 2023 Market share

On the bottom line, core earnings per share were $1.37, up 3% versus the prior year, and up 13% on a currency-neutral basis.

“We delivered strong results in the third 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. “Our team’s strong execution of our strategies and our progress through three quarters enable us to raise our fiscal year outlook for sales growth and cash return to shareowners and maintain our guidance range for EPS growth despite continued cost and foreign exchange headwinds. We remain committed to our integrated strategies of a focused product portfolio of daily use categories where performance drives brand choice, superiority, productivity, constructive disruption and an agile and accountable organization structure. These strategies have enabled us to build and sustain strong momentum, and we’re confident they remain the right strategies to deliver balanced growth and value creation going forward.”

Q3 2023 Strategy

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: https://news.pg.com/news-releases/news-details/2023/PG-Announces-Fiscal-Year-2023-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 FY’23 earnings release issued April 21, 2023, 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.