04.19.24
Procter & Gamble’s net sales in the third quarter of fiscal year 2024 were $20.2 billion, a 1% increase versus the prior year. Organic sales, which exclude the impacts of foreign exchange and acquisitions and divestitures, increased 3%. The organic sales increase was driven by a 3% increase from higher pricing. Mix and volume had a neutral impact on sales for the quarter.
Baby, Feminine and Family Care segment organic sales were unchanged versus year ago. Baby Care organic sales decreased mid-single digits due primarily to pricing-related volume declines, partially offset by favorable product mix and devaluation-related price increases. Feminine Care organic sales increased low single digits driven by increased pricing and favorable product mix, partially offset by pricing-related volume declines. Family Care organic sales increased low single digits due to volume growth, partially offset by unfavorable product mix.
“We delivered solid sales and strong earnings growth in the third quarter despite multiple headwinds, enabling us to raise our EPS growth guidance and maintain our top-line outlook for the fiscal year,” says Jon Moeller, chairman of the board, president and chief executive officer. “We remain committed to our integrated strategy of a focused product portfolio of daily use categories where performance drives brand choice, superiority — across product performance, packaging, brand communication, retail execution and consumer and customer value — productivity, constructive disruption and an agile and accountable organization. We are increasing investments in superiority to drive market growth and sustain strong momentum. We have confidence this remains the right strategy to deliver balanced growth and value creation.”
Baby, Feminine and Family Care segment organic sales were unchanged versus year ago. Baby Care organic sales decreased mid-single digits due primarily to pricing-related volume declines, partially offset by favorable product mix and devaluation-related price increases. Feminine Care organic sales increased low single digits driven by increased pricing and favorable product mix, partially offset by pricing-related volume declines. Family Care organic sales increased low single digits due to volume growth, partially offset by unfavorable product mix.
“We delivered solid sales and strong earnings growth in the third quarter despite multiple headwinds, enabling us to raise our EPS growth guidance and maintain our top-line outlook for the fiscal year,” says Jon Moeller, chairman of the board, president and chief executive officer. “We remain committed to our integrated strategy of a focused product portfolio of daily use categories where performance drives brand choice, superiority — across product performance, packaging, brand communication, retail execution and consumer and customer value — productivity, constructive disruption and an agile and accountable organization. We are increasing investments in superiority to drive market growth and sustain strong momentum. We have confidence this remains the right strategy to deliver balanced growth and value creation.”