Procter & Gamble (NYSE: PG) 1Q20 Results: Innovation and Increased Pricing Drive Growth

Executive Summary

• Proctor & Gamble (P&G) reported net sales of $17.8 billion for the first quarter of fiscal 2020, an increase of 6.6% compared to the same period last year. Organic sales were up 7% versus last year.
• The beauty segment recorded the highest organic sales growth of 10% year over year, followed by the health care segment with 9% year-on-year organic sales growth. Net sales in the two segments were $3.6 billion and $2.2 billion, respectively, in the first quarter of fiscal 2020.
• For fiscal year 2020, P&G changed its target for both organic sales growth and net sales growth to the range of 3-5%.