Procter & Gamble Q1 Report 2023

Net sales in the first quarter of fiscal year 2023 were $20.6 billion, a one percent increase versus the prior year. Unfavorable foreign exchange had a six percent impact on net sales. Organic sales, which exclude the impacts of foreign exchange and acquisitions and divestitures, increased seven percent. The organic sales increase was driven by a nine percent increase from higher pricing and a one percent increase from positive product mix, partially offset by a three percent decrease in shipment volumes.

• Beauty segment organic sales increased four percent versus year ago. Skin and Personal Care organic sales increased mid-single digits due to innovation-driven volume growth and increased pricing, partially offset by negative mix from the decline of SK-II. Hair Care organic sales increased mid-single digits driven by increased pricing, partially offset by volume declines related to market contraction.
• Grooming segment organic sales increased five percent versus year ago due to increased pricing, partially offset by negative mix due to market slowdown of appliances.