Procter & Gamble Delivers Better-Than-Expected Q1 Earnings

The Proctor & Gamble Co. (NYSE: PG), the consumer goods company announced fiscal Q1 results with revenues of $20.6 billion, up by only 1% year-over-year, beating Street estimates by $240 million.

Adjusted net earnings came in at $1.57 per share, down by 2% year-over-year but still ahead of the consensus forecast of $1.55 per share.

Jon Moeller, Chairman of the Board, President, and CEO commented, “We delivered solid results in our first quarter of fiscal 2023 in a very difficult cost and operating environment. These results enable us to maintain our guidance ranges for organic sales and EPS growth for the fiscal year despite continued significant headwinds.”