When Procter & Gamble Co. (NYSE: PG) reported its fiscal first-quarter financial results before the markets opened on Friday, the company said that it had $1.09 in earnings per share (EPS) and $16.65 billion in revenue. That compared with consensus estimates from Thomson Reuters of $1.08 in EPS on revenue of $16.7 billion. In the same period of last year, the consumer goods giant posted EPS of $1.03 and $16.52 billion in revenue.

For the fiscal first quarter, P&G reported its segments as follows:

• Beauty organic sales increased 5% compared to last year. Organic sales were up double digits in Skin & Personal Care driven by growth in China.
• Grooming organic sales decreased 6% due to lower sales in Shave Care, partially offset by growth in Appliances.
• Health Care segment organic sales increased 1%. Oral Care organic sales increased low single digits behind product innovation on power toothbrushes and toothpaste and increased marketing support.
• Fabric and Home Care segment organic sales increased 2% from a year ago, driven by gains in Fabric Care.
• Baby, Feminine and Family Care segment organic sales decreased 1%. Baby Care organic sales decreased mid-single digits due in part to competitive activity in Europe and a decline in China Baby Care shipments due primarily to wholesaler inventory run-down ahead of new innovation shipments.

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In terms of guidance for the fiscal 2018 full year, the company expects to see core EPS growth in the range of 5% to 7% and organic sales growth of 2% to 3%. The consensus estimates call for $4.17 in EPS and $67.13 billion in revenue for the coming year.

On the books, the company’s cash, cash equivalents and marketable securities totaled $16.0 billion at the end of the quarter, up from $15.1 billion at the end of the previous fiscal year.

David Taylor, board chair, president and chief executive, commented:

First quarter sales and earnings results were in line with our going-in expectations and keep us on track to deliver our targets for the fiscal year. We delivered organic sales growth in a decelerating global market and against a relatively strong base period. Market share trends continue to improve, with more of our top brands and countries holding or growing share. Looking forward, we will drive innovation, productivity and organization transformation to accelerate top-line growth while further expanding our industry-leading profit margins.

Shares of P&G were last seen down more than 3% to $88.62 on Friday, with a consensus analyst price target of $94.00 and a 52-week range of $81.18 to $94.67.

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