P&G Announces Fiscal Year 2023 Third Quarter Results

Procter & Gamble (P&G) reported net sales of $20.1 billion in the third quarter of fiscal year 2023, marking a four percent increase compared to the previous year. Organic sales grew seven percent, excluding impacts of foreign exchange and acquisitions and divestitures. Diluted net earnings per share increased three percent to $1.37. The company also returned $3.6 billion to shareholders via dividend payments and stock repurchases, and declared a dividend increase, marking the 67th consecutive year of dividend increases and 133rd consecutive year of dividend payments since its incorporation in 1890. Jon Moeller, Chairman of the Board, President, and CEO, attributed the strong results to the company's execution of its strategies and raised the fiscal year outlook for sales growth and cash return to shareholders.