By Natasha Khan

Procter & Gamble reported quarterly results that matched its forecasts, boosted by volume growth and higher prices in several key categories in North America.

Asked about potential tariffs on U.S. imports-as promised by President Trump-executives said P&G manufactures the vast majority of its products locally.

"Our products don't like to travel," Chief Financial Officer Andre Schulten said in an interview, referring to a portfolio that spans products including Pantene shampoos, Tide detergents and Pampers diapers.

Schulten said P&G has invested $6 billion in U.S. manufacturing over the past six years, which he said created 6,000 jobs. He said the company hires across the labor force and he didn't anticipate having issues finding talent.

Some key details from P&G's quarterly results:

-- Net sales increased 2% from a year earlier to $21.9 billion.

-- Organic sales, which exclude currency swings and acquisitions or divestments, rose 3%.

-- Non-GAAP core earnings also rose 2%, to $1.88 a share. GAAP refers to generally accepted accounting principles. Analysts had expected $1.86, according to FactSet.

-- Halfway through the fiscal year, P&G kept its goals for organic sales growth of 3% to 5%, and for core earnings growth.

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(END) Dow Jones Newswires

January 22, 2025 07:05 ET (12:05 GMT)

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