By Dean Seal

Procter & Gamble recorded higher sales in its fiscal second quarter as volumes picked up in certain segments.

The consumer-products company posted a profit of $4.63 billion, or $1.88 a share. That's up from $3.47 billion, or $1.40 a share, in the same quarter a year ago, which included a $1.3 billion charge on its Gillette business.

Stripping out one-time items, adjusted earnings were $1.88 a share. Analysts polled by FactSet had been expecting $1.86 a share.

Sales rose 2% to $21.88 billion, above analyst forecasts for $21.54 billion, according to FactSet.

The top line was up 3% on an organic basis, two-thirds of which came from higher volumes, bouncing back from flat volumes last quarter. The rest came from a more favorable geographic mix of sold products, while pricing had no impact, the company said.

Each of the company's operating segments recorded gains in organic sales, though volumes fell in its beauty segment and were flat in healthcare. Volumes were higher in its grooming segment, fabric & homecare, and its baby- and feminine-care business.

P&G's gross margin was dented during the quarter by higher commodity costs and expenses from product reinvestments and transportation services. Overhead costs were also a higher percentage of sales.

Shares rose 2.7% to $166.04 in premarket trading.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

January 22, 2025 07:13 ET (12:13 GMT)

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