Procter & Gamble's Mixed Bag Q1: EPS Exceeds Estimates, Reaffirms Growth Outlook & More

Procter & Gamble Co (NYSE:PG) shares are trading lower after the company reported first-quarter sales of $21.74 billion (-1% Y/Y), missing the analyst consensus estimate of $21.91 billion.

Organic sales, which exclude the impacts of foreign exchange and acquisitions and divestitures, increased by 2%.

Organic sales growth was driven by a 1% increase in higher pricing and a 1% rise in organic volume, excluding the effects of acquisitions and divestitures.

Sales in the Beauty segment fell 5%, and the Baby, Feminine & Family Care segment declined 2%.

Meanwhile, the Grooming segment sales sales remained flat, while Fabric & Home Care grew 1% and Health Care sales increased 2%.

Gross profit remained flat at $11.3 billion. The reported gross margin expanded by 10 basis points to 52.1%, and the core gross margin was flat ...