THE WHAT? Procter & Gamble has reported its results for the third quarter of fiscal 2022. The US FMCG giant saw net sales rise seven percent versus the prior-year period to hit US$19.4 billion.

THE DETAILS Diluted net earnings per share stood at US$1.33, an increase of 6 percent versus the same there months of 2021.

Health Care was the top-performing category of the January-March quarter, in terms of organic sales growth, putting on 16 percent. Both Fabric & Home Care and Baby, Feminine & Family Care gained 10 percent while Grooming declared a respectable 8 percent rise and Beauty inched up 3 percent.

Drilling down within the Beauty division, P&G said that Skin and Personal Care organic sales increased low single digits due to increased pricing and market growth, partially offset by negative product mix. Hair Care organic sales increased low single digits driven by increased pricing partially offset by pandemic-related volume slowdowns.

THE WHY? Jon Moeller, President and Chief Executive Officer, explains, “We delivered another quarter with strong sales growth and made sequential earnings growth progress despite significant and increasing cost headwinds. These results enable us to raise our top-line growth outlook for the fiscal year and to maintain our EPS guidance range. Our focus remains on the strategies of superiority, productivity, constructive disruption and continually improving P&G’s organization and culture. These strategies have enabled us to build and sustain strong momentum. They remain the right strategies to manage through the near-term cost and operational challenges we’re facing and to deliver long-term balanced growth and value creation.”