Procter & Gamble Company PG reported strong top and bottom line earnings for the first quarter of fiscal 2024, beating the Zacks’ consensus estimate. Sales and earnings also improved year over year. The company’s organic sales grew on the back of sustainable pricing and favourable product mix, as well as strong segments.

Procter & Gamble’s core earnings of $1.83 per share rose 17% from $1.57 in the year-ago quarter. The figure also beat the Zacks’ consensus estimate of $1.71. The strong performance was driven by higher sales, improved operating margins and lower shares outstanding. Net earnings per share (EPS) in currency increased 21% year over year.

The company reported net sales of $21,871 million, up 6% year-over-year. Sales exceeded the Zacks consensus estimate of $21,648 million. The increase in sales was attributed to growth in all segments. Currency had a 1% negative impact on net sales.