Key Takeaways

• Procter & Gamble reported lower sales and net income than analysts expected for the first quarter of fiscal 2025.

• After accounting for the one-time cost of a restructuring effort in the company's operations in Argentina, P&G's adjusted profit beat estimates.

• The consumer products giant also affirmed its full-year financial projections.

Procter & Gamble (PG) missed sales and net income estimates in its fiscal 2025 first-quarter earnings report Friday morning, but its adjusted profit beat expectations.

The company behind consumer products like Tide and Old Spice saw sales decline 1% year-over-year to $21.74 billion, below analysts' consensus estimates of $21.99 billion, according to Visible Alpha. P&G's net income came in at $3.99 billion, down from $4.56 billion a year ago and the $4.60 billion expectation.

P&G said it started a restructuring effort to its business in Argentina and Nigeria, and after accounting for the roughly $800 million in restructuring costs recorded in the quarter, P&G's adjusted profit of $4.76 billion came in just above estimates.

CEO Says Q1 Results 'Keep Us on Track'

Chief Executive Officer (CEO) Jon Moeller said the company's results "keep us on track to deliver within our guidance ranges" for the full fiscal year.

Sales increased in P&G's Health Care and Fabric & Home Care units, but fell in the Beauty and Baby, Family & Feminine Care segments.

P&G shares were down less than 1% at $170.45 as markets opened Friday. They are up about 15% this year.

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