Procter & Gamble Sales Rise 4% as Fabric and Home Care Volume Grows

Procter & Gamble (P&G) posted 4% sales growth in its fiscal first quarter as fabric and home care volume climbed 4.3%, lifting total company volume growth to 2.4%. The results covered the three months ended Sept. 30. Adjusted earnings per share were $2, above the $1.88 analyst estimate. Net sales reached $23.3 billion, exceeding the $22.8 billion estimate. P&G shares gained more than 5% in morning trading Thursday. Fabric and home care, which includes Tide and Febreze, led the company’s businesses. Growth in laundry products and fabric enhancers supported the segment’s 4.3% volume increase.