P&G Reports Slight Gain in Fiscal Q3 Sales

Procter & Gamble said sales rose 1% to $16.5 billion in Q3 of fiscal 2019. The results topped estimates, but company executives said it will be tough sledding going forward, predicting full-year sales growth of flat to up 1%. In the past 12 months, P&G’s shares have jumped more than 45%.

“We delivered another quarter of strong organic sales growth, enabling us to further increase our outlook for the year,” said David Taylor, chairman, president and chief executive officer, Procter & Gamble. “Cash generation also remains strong, supporting an increase in our cash productivity target and extending our long track record of dividend increases. Our focus on superiority, productivity and improving P&G’s organization and culture is delivering improved results despite a challenging competitive and macroeconomic environment.”

By category, beauty sales rose 4% on a 3% increase in volume; grooming sales fell 8%, due in part, to a 3% decline in volume; health care sales jumped 9% on a 7% increase in volume; fabric and home care sales rose 2% on a 5% increase in volume; but baby, feminine and family care sales fell 2% on flat volume.