Consumer goods behemoth The Procter & Gamble Company (NYSE: PG) announced financial results for the third quarter of 2024, reporting a double-digit growth in net profit. Sales rose modestly.
Core earnings increased to $1.52 per share in Q3 from $1.37 per share in the year-ago quarter, and came in above analysts’ forecast. Net income attributable to the company, on a reported basis, was $3.75 billion or $1.52 per share in Q3, compared to $3.40 billion or $1.37 per share in the corresponding quarter of 2023.
Net sales increased modestly to $20.2 billion in the March quarter from $20.1 billion in the prior-year period. There was a 3% growth in organic sales during the three months.
“We delivered solid sales and strong earnings growth in the third quarter despite multiple headwinds, enabling us to raise our EPS growth guidance and maintain our top-line outlook for the fiscal year,” said Jon Moeller, CEO of Procter & Gamble.