The Procter & Gamble Company reported third quarter fiscal year 2015 core earnings per share of $0.92. On a currency-neutral basis, core earnings per share increased 10% for the quarter.
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Diluted net earnings, which include all restructuring charges and impacts from discontinued operations, were $0.75 per share. Net sales were $18.1 billion, a decrease of eight percent versus the prior year period, including a negative eight percentage point impact from foreign exchange and a negative one percentage point impact from minor brand divestitures. Organic sales grew one percent.
Beauty, Hair, and Personal Care segment organic sales decreased three percent as a positive impact from pricing was more than offset by lower volume.
Innovation-driven organic sales growth in the Deodorants, Cosmetics and Salon Hair Care categories were more than offset by sales declines mainly from the Prestige Fragrance and mass Skin Care categories. Hair Care organic sales were down in developed markets due mainly to increased competitive promotional activity in the U.S. and customer inventory reductions in China.
Grooming segment organic sales increased nine percent due to higher pricing across all regions on Blades & Razors, favorable volume and product mix from premium innovation on both the Gillette and Braun businesses.
Health Care segment organic sales increased six percent behind favorable geographic mix and pricing in Oral Care and higher pricing in Personal Health Care. Higher volume in Personal Health Care driven by a stronger cough and cold season was offset by lower volume in Oral Care developing markets following price increases.
Fabric Care and Home Care segment organic sales are unchanged versus year ago as the favorable impact of geographic and product mix, along with increased volume in P&G Professional from distribution gains, was offset by lower volume in Fabric Care.
Fabric Care organic sales growth in developing markets was more than offset by declines in North America due mainly to a base period which included the ship in of several new product innovations.
North American Fabric Care consumption was up two points on the quarter, where both Tide and Gain gained market share. Home Care organic sales were up for the quarter behind pricing-driven growth in developing markets.
Baby, Feminine and Family Care segment organic sales increased two percent behind pricing and mix in Baby Care and Feminine Care, including the benefits from the Always Discreet entry into the adult incontinence category and continued strong growth of Pampers Swaddlers in North America. ■