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Gillette Parent Procter & Gamble Grows Q3 Margins Despite Flat Revenue, Raises Annual Profit Outlook

Procter & Gamble Co (NYSE:PG) reported third-quarter FY24 sales growth of 1% year-on-year to $20.195 billion, missing the analyst consensus estimate of $20.408 billion. Organic sales increased 3%, driven by a 3% increase from higher pricing. Sales in the Beauty segment rose 2%, the Grooming segment gained 3%, and Health Care increased 2%. Adjusted EPS of $1.52 beat the consensus estimate of $1.41. Gross profit increased 7% Y/Y to $10.3 billion. The reported gross margin increased by 300 basis points to 51.2%. Operating margin expanded 90 basis points to 22.1%, while operating income for the ...