The Quarter in Brief
Procter & Gamble (P&G) reported the first quarter of its fiscal 2027, the three months ended September 30, 2026, before the market opened on October 22. Net sales were $23.28 billion, up 4.0% from a year earlier. Reported earnings per share were $1.97, up 1% from $1.95. Core earnings per share, the company's own measure that leaves out restructuring charges above its normal yearly level, were $2.00, up 1% from $1.99.
Both figures were ahead of expectations: analysts had expected about $22.8 billion of sales and core earnings of about $1.89 a share. What made the quarter different was where the growth came from. Organic sales (growth with the effects of exchange rates, acquisitions and disposals taken out) rose 4%, the fastest in at least two years, and most of it came from selling more units, not from raising prices: volume added 2.4 points and pricing only 0.4.