P&G Tops Estimates for 1Q

The Procter & Gamble Company announced net sales growth of 27 percent to $18.79 billion behind strong results on the base business and on Gillette. Organic sales increased six percent, at the top end of the company’s long-term target range. Blades and Razors sales increased 12 percent versus the pre-acquisition base period behind strong global consumption and pipeline shipments of Fusion in Western Europe and Japan. Earnings per share increased three percent, including the impact of Gillette dilution. Excluding the impact of Gillette dilution, earnings per share increased 9% – 10%.

“The company delivered broad-based growth behind strong innovation on both the base business and Gillette. We are delivering our growth commitments and continue to make good progress with the Gillette integration,” said Chairman of the Board, President and Chief Executive A.G. Lafley. “Looking forward, we expect earnings per share growth to accelerate driven by strong base business results, the ramp-up of Gillette synergies and an improving cost environment.”

Volume increased 23 percent globally during the quarter behind strong base business growth and the addition of Gillette. Each reportable segment delivered year-on-year growth led by successful product initiatives including Gillette Fusion, Olay Definity, Crest Pro Health, Tide Simple Pleasures, Febreze Noticeables, Pantene Color Expressions, Head & Shoulders and Herbal Essences restages, and Folgers Gourmet Selections and Simply Smooth.