Global beauty company The Procter & Gamble Company reported third quarter fiscal year 2022 net sales of $19.4 billion, an increase of seven percent versus the prior year.
 
Organic sales, which exclude the impacts of foreign exchange and acquisitions and divestitures, increased 10%. The organic sales increase was driven by a three percent increase in shipment volumes, five percent from increased pricing, and a two percent increase from positive geographic and product mix.
 
“We delivered another quarter with strong sales growth and made sequential earnings growth progress despite significant and increasing cost headwinds,” said Jon Moeller, president and chief executive officer.

Business Segments

Beauty segment organic sales increased three percent versus year ago. 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.
 
Grooming segment organic sales increased eight percent versus year ago. Shave Care organic sales increased double digits due to innovation, market growth, increased pricing and positive mix from growth of premium products and developed markets. All regions grew organic sales. Appliances organic sales decreased low single digits, versus a base period that benefited from a pandemic-related consumption increase of in-home shavers and stylers.
 
Health Care segment organic sales increased 16% versus year ago. Oral Care organic sales increased high single digits due to continued growth of premium products and increased pricing. Personal Health Care organic sales increased more than 30%.
 
Fabric and Home Care segment organic sales increased 10% versus year ago. Baby, Feminine and Family Care segment organic sales also increased 10% versus year ago.

Outlook

“These results enable us to raise our top-line growth outlook for the fiscal year and to maintain our EPS guidance range,” Moeller added. “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.”
 
P&G raised its outlook for fiscal 2022 all-in sales growth from a range of three to four percent to a range of four to five percent versus the prior fiscal year. The company also raised its guidance for organic sales growth from a range of four to five percent to a range of six to seven percent.