Procter & Gamble (PG) reported mixed first quarter earnings Friday morning. The company's adjusted earnings per share of $1.93 surpassed the expected $1.90. However, revenue fell short of estimates, coming in at $21.74 billion, just below the anticipated $21.96 billion.

Following the report, CEO and President Jon Moeller joined Yahoo Finance Executive Editor Brian Sozzi to discuss the company's performance.

Moeller addressed a key question for the North American market: "Can we grow meaningful unit volume at the new prices that we've moved to as a result of the commodity cost increases?" He noted that they achieved this, with volume up 4% in the North American business this quarter.

Over the last five quarters, he highlighted an average of 3-4 points of growth in the region, demonstrating "a very strong consumer that's being offered a very good value." Despite increased commodity costs in the region, the company has managed to sustain volume growth.

Regarding the US consumer and the inflationary environment, Moeller explains, "We try to ensure that we have offerings that are available across the price ladder for consumers who have different outlay needs." He mentions this approach includes tailored pack offerings for budget-conscious consumers, emphasizing the company's commitment to value-driven performance.

"Our whole model depends on delighting a number of constituents: delighting consumers, delighting customers, delighting employees, delighting society, delighting shareholders. And I firmly believe that if we fail to do one of those, we will fail to do all of them," Moeller explains to Yahoo Finance. He goes on to add that, when it comes to small packaging sizes, "Smaller sizes, in general, ... are more costly to produce. So it's not intuitive that you grow margin by doing that. But there are times where we will reduce the size of an offering ... because that, at times, increases affordability. So it's based on a desire to increase value, approachability, affordability of our products."

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This post was written by Angel Smith