Procter & Gamble earnings beat as sales rise 4%, boosted by laundry and home products

Procter & Gamble on Thursday reported quarterly earnings and revenue that beat analysts' expectations, fueled by growing demand for its laundry detergent and home care products. Shares of the company rose more than 2% in premarket trading. Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG: - Earnings per share: $2.00 adjusted vs. $1.88 expected - Revenue: $23.3 billion vs. $22.8 billion expected P&G reported fiscal first-quarter net income attributable to the company of $4.73 billion, or $1.97 per share, down from $4.75 billion, or $1.95 per share, a year earlier. Excluding restructuring costs and other items, the company earned $2 per share. Net sales rose 4% to $23.3 billion. P&G reported volume growth of 2.4%, a strong start for its new fiscal year. Like many consumer companies, P&G has seen demand for its products weaken as shoppers have become more value conscious. Executives have previously said that consumers are now using every last drop of shampoo or laundry detergent, and value packs have become more popular. In fiscal 2026, P&G reported just one quarter of volume growth. P&G's top performing division was fabric and home care, which includes brands like Tide and Febreze. The segment's volume rose 4.3% in the quarter. The company's baby, feminine and family care segment and its beauty business both reported volume growth of more than 2%. P&G's grooming division saw volume shrink 0.4% in the quarter. The segment includes Gillette and Venus razors. The company's health care business was the laggard of the portfolio this quarter. Its volume fell 2.9% as demand for oral health care products, like Crest toothpaste, and personal health care items, like Pepto-Bismol, shrank. The company is expecting continued "geopolitical and economic challenges," but P&G is on track to meet its guidance, CEO Shailesh Jejurikar said in a statement. For fiscal 2027, P&G reiterated its forecast for core earnings per share in a range of $6.89 to $7.11. The company is now projecting all-in sales growth in the range of 2% to 4% compared with the prior year, up from its prior outlook of 1% to 3%. The change reflects its acquisition of vitamin company Thorne, which closed on Oct. 1.