Procter & Gamble Company (NYSE:PG) shares rose after the company reported quarterly results that topped expectations, driven by broad-based growth across categories and regions.
The consumer goods giant highlighted steady organic momentum and reaffirmed its full-year outlook despite ongoing cost pressures and a challenging macro environment.
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The company reported third-quarter adjusted earnings per share of $1.59, beating the analyst consensus estimate of $1.56. Quarterly sales of $21.235 billion (+7% year over year) outpaced the Street view of $20.516 billion.
The company returned $3.2 billion of cash to shareowners via $2.5 billion of dividend payments and over $600 million of share repurchases.
“We delivered a solid acceleration in top-line results in our fiscal third quarter, with broad-based growth across product categories and regions,” said Chief Executive Officer Shailesh Jejurikar.
Organic sales rose 3%, excluding impacts from foreign exchange, acquisitions, and divestitures. A 2% increase in volume drove growth.
Higher pricing contributed an additional 1% gain. Product mix had a neutral …
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