Consumer goods giant Procter & Gamble (PG) has reported financial results that topped Wall Street’s forecasts across the board.
The maker of Tide laundry detergent announced earnings per share (EPS) of $2 U.S., which beat the $1.88 U.S. expected among analysts.
Revenue in what was the year’s third quarter totaled $23.3 billion U.S., which surpassed the $22.8 billion U.S. consensus estimate among analysts. Sales were up 4% from a year earlier.
Management attributed the strong print to growing demand for the company’s laundry detergent and home care products.
Procter & Gamble reported volume growth of 2.4%, giving the company a strong start to its 2027 fiscal year.
The latest results are a reversal for Procter & Gamble, which has seen demand for its name brand products weaken as shoppers have become more value conscious in recent years.
In its previous fiscal year, Procter & Gamble reported just one quarter of volume growth.
On their earnings call with analysts and media, Procter & Gamble executives said that low-income consumers are trying to make brands like Tide and Pampers diapers work for their budgets but continue to trade down to lower-priced generic brands.
The company has responded to the current situation with promotional pricing, new pack sizes, and product innovations that can command higher prices.
Procter & Gamble’s top performing division continues to be fabric and home care, which includes brands such as Tide and Febreze odour eliminator.
For its fiscal 2027 year, Procter & Gamble expects earnings per share in a range of $6.89 U.S. to $7.11 U.S. The company is projecting full-year sales growth in the range of 2% to 4%.
PG stock has risen 3% over the past 12 months to trade at $156.84 U.S. per share.
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