宝洁FY2027一季度营收、EPS与有机销售全面超预期，但全年指引维持且上调成本预期，盘前已涨约2.4%

Procter & Gamble Co.’s sales and profits beat Wall Street expectations, showing the Tide-owner’s limited price hikes that are successfully drawing constrained customers have not come at the expense of earnings.

Organic revenue rose 4% in the first quarter, which ended in September, according to a statement Thursday, the fastest growth in three years. That beat analysts’ estimates for 2% and was driven mostly by improved sales volumes, suggesting P&G’s limited price hikes have been successfully drawing more consumers amid persistent inflation.

P&G’s shares rose 2.4% at 7:05 a.m. in premarket trading Thursday in New York. Through Wednesday’s close, the stock had gained 9.4% this year, less than the S&P 500 Index’s 13%.

The Pampers diaper-maker has been focused on growing its market share by attracting customers with fewer price increases, even as the business faces intense cost pressures stemming from the Middle East conflict. The results give evidence that the strategy is paying off as consumers become more thoughtful with their spending, though the momentum may not trickle down to its smaller competitors.

P&G boasts dominant positions in laundry detergent, diapers and toothpaste markets, among others, according to Circana data compiled by Bloomberg News. That breadth of offerings in daily-use items across different price points appears to be helping it weather the current economic slowdown more than its peers.

Pricing improved sales by less than 1%, while volumes contributed a 2.4% boost.

P&G’s earnings, excluding some non-recurring items, were flat from a year ago, ahead of expectations for a 5% drop and reversing declines it reported in July.

While material and freight costs continue to grow, the company’s productivity drive is limiting the impact.

P&G also maintained its full year organic sales and profit forecasts, though it raised its view for commodity costs to $1.4 billion, from $1 billion previously. Including high interest rate and foreign exchanges expenses, the company said these factors will equate to an estimated 11% drag on its earnings growth.