Procter & Gamble Company (NYSE:PG) reported second-quarter FY24 sales growth of 3% year-over-year to $21.441 billion, marginally missing the consensus of $21.47 billion.
Adjusted EPS of $1.84 beat the consensus of $1.70.
Organic sales increased by 4%, driven by a 4% increase from higher pricing, partially offset by a 1% decrease in organic shipment volumes. Mix had a neutral impact on sales for the quarter.
Segment Sales Growth YoY: Organic sales in the Beauty segment rose 1%, the Grooming segment gained 9%, Health Care increased 2%, Fabric & Home Care rose 6%, and Baby, Feminine & Family Care grew 3%.
Gross margin for the quarter increased 520 basis points versus the prior year, based on gross productivity savings, favorable commodity costs, and increased pricing.
The quarterly core operating ...