Q3 Net Sales for P&G Is $19.4 Billion

Net sales in the third quarter for Procter & Gamble were $19.4 billion, an increase of 7% compared to the prior-year quarter. 

 

With the exclusion of the impacts of foreign exchange, acquisitions and divestitures, organic sales increased 10%. Operating cash flow was $3.2 billion for the quarter. 

 

P&G returned over $3.4 billion of cash to shareholders via about $2.2 billion of dividend payments and $1.2 billion of common stock repurchases.

 

“We delivered another quarter with strong sales growth and made sequential earnings growth progress despite significant and increasing cost headwinds,” said Jon Moeller, president and CEO. “These results enable us to raise our top-line growth outlook for the fiscal year and to maintain our EPS guidance range. Our focus remains on the strategies of superiority, productivity, constructive disruption and continually improving P&G’s organization and culture. These strategies have enabled us to build and sustain strong momentum. They remain the right strategies to manage through the near-term cost and operational challenges we’re facing and to deliver long-term balanced growth and value creation.”

 

Organic Sales by Category 

 

Organic sales in the beauty segment increased 3% from last year. Increased pricing and market growth, partially offset by negative product mix, caused skin and personal care sales to increase low single-digits. Hair care sales increased low single-digits driven by increased pricing partially offset by pandemic-related volume slowdowns.

 

Organic sales in the grooming segment increased 8% compared with last year. Market growth, innovation and increased pricing coupled with a positive mix from growth of premium products and developed markets drove shave care sales to increase double digits. All regions grew organic sales. 

 

Sales in the health care segment increased 16% versus year ago. Oral care sales increased high single-digits due to continued growth of premium products and increased pricing. Personal health care organic sales increased more than 30% due to a stronger cough, cold and flu season versus the prior year, and innovation in sleep and digestive wellness. All regions grew organic sales.

 

The home care and fabric segment increased 10% versus year ago. Home care organic sales increased mid-single digits due to increased pricing, versus a base period that benefited from a pandemic-related consumption increase of cleaning products.
 

Baby, feminine and family care sales also increased 10% versus year ago. Baby care sales increased double digits due to market growth, innovation and increased pricing. Feminine care sales increased double digits driven by innovation, market growth, positive product mix and increased pricing. Organic sales grew in all regions. Family care organic sales increased mid-single digits due to increased pricing.