The Procter & Gamble Company (P&G) has released its third quarter fiscal year 2017 earnings.
Net sales, which decreased by 1% from the same time in 2016, totaled $15.6 billion. According to the company, this includes a negative two percent impact from foreign exchange.
- The beauty segment saw organic sales increase by 1% versus a year ago behind growth in skin & personal care.
- The grooming segment saw organic sales decrease by 6% due to lower volume and reduced pricing in shave care.
David Taylor, chairman, president and CEO of P&G, said, “The third quarter macro environment was characterized by a slowdown in market growth, continued geopolitical disruptions and foreign exchange challenges. Against this backdrop, we delivered modest organic sales growth and double-digit Core EPS growth, and we increased the quarterly dividend for the 61st consecutive year. Looking forward, we are maintaining our organic sales and Core EPS guidance ranges for the year and increasing our outlook for adjusted free cash flow productivity.”