Procter & Gamble earnings rise as it again raises prices and boosts margins

Procter & Gamble, the Cincinnati-based parent of brands including Charmin, Crest and Pampers, posted better-than-expected fiscal first-quarter earnings early Wednesday, boosted by another increase in prices.The company posted net income of $4.521 billion, or $1.83 a share, for the quarter to Sept. 30, up from $3.963 billion, or $1.57 a share, in the year-earlier period. Adjusted per-share earnings also came to $1.83, well ahead of the $1.72 FactSet consensus.

“We delivered very strong results in the first quarter of fiscal year 2024, putting us on track to deliver towards the higher end of our fiscal year guidance ranges for organic sales and core EPS growth,” Chief Executive Jon Moeller said in a statement. Gross margin increased 460 basis points from the year-earlier, driven by higher pricing, favorable commodity costs and productivity savings.

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Procter & Gamble tops earnings, revenue estimates even as volume falls againProcter & Gamble’s shares have fallen 3.7% this year, dragging its market value down to $344 billion.
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Procter & Gamble earnings are out – Here are the numbersProcter & Gamble’s shares have fallen 3.7% this year, dragging its market value down to $344 billion.
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Procter & Gamble’s stock up after earnings beat estimatesCiara Linnane is MarketWatch's investing- and corporate-news editor. She is based in New York.
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Procter & Gamble tops earnings, revenue estimates even as higher prices drive some consumers awayProcter & Gamble’s shares have fallen 3.7% this year, dragging its market value down to $344 billion.
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Procter & Gamble earnings: What to expectP&G is expected to report higher profit and revenue for its fiscal first quarter
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