CINCINNATI - The Procter & Gamble Company has reported second quarter fiscal year 2021 net sales of $19.7 billion, an increase of 8% compared to the previous year, helped by a solid performance from the Baby, Feminine and Family Care segment.
Net earnings were $3.9 billion, up 4% compared to the second quarter in 2020.
The Baby segment saw organic sales increase 6% compared to the same period last year, driven by growth in North America and devaluation-related price increases in certain regions. This was partially offset by market contraction in certain regions due to the pandemic and competitive activity.
Feminine Care organic sales increased mid-single digits driven by positive product mix due to premium innovation growth in North America and Greater China and devaluation-related price increases in certain regions. Family Care organic sales increased double digits driven by consumption increases as consumers spend more time at home during the pandemic.
“We delivered another strong quarter of results across all key measures – top line, bottom line and cash,” said David Taylor, chairman, president and chief executive officer. “We remain focused on executing our strategies of superiority, productivity, constructive disruption and improving P&G’s organization and culture. These strategies enabled us to build strong business momentum before the COVID crisis, accelerated our progress in calendar year 2020 and remain the right strategies to deliver balanced growth and value creation over the long term.”
Looking ahead, P&G has raised its outlook for fiscal 2021 all-in sales growth from a range of 3-4% to a range of 5-6%.
