跟进：宝洁财年一季度净销售额233亿美元增4% 核心每股收益2.00美元高于预期
辛辛那提——宝洁公司（Procter & Gamble，NYSE: PG）10月22日盘前发布2027财年第一季度（截至2026年9月30日）业绩：净销售额233亿美元，同比增长4%；剔除汇率与并购剥离影响的有机销售额同样增长4%。本台此前报道市场预期其每股收益约1.88美元，实际核心每股收益2.00美元，高于预期。
按通用会计准则，宝洁当季摊薄每股收益1.97美元，同比增长1%（上年同期1.95美元）；核心每股收益2.00美元，同比增长1%（上年同期1.99美元）。公司称，销售增长被营业成本上升部分抵消：当季毛利率49.8%，同比下降160个基点。当季净利润约48亿美元，经营现金流58亿美元，自由现金流生产率93%。宝洁当季向股东返还39亿美元，其中股息26亿美元、股票回购13亿美元。
分部门看有机销售额：美容业务增长5%，男士理容业务增长5%，织物与家居护理业务增长5%（织物护理销量增长带动），健康护理业务增长3%，婴儿、女性与家庭护理业务增长3%（婴儿护理领涨）。当季有机销量增长2.4%，产品组合贡献1.1个百分点，定价贡献0.4个百分点。
指引方面，宝洁把2027财年全年销售额增长预期更新为2%至4%，以反映10月1日起生效的 Thorne 收购；有机销售额增长、核心每股收益增长（与上年持平至增长3%，即每股6.89至7.11美元）与现金返还指引均维持不变。
关联：宝洁10月22日盘前发布财年一季度业绩：市场预期每股收益1.88美元
Follow-Up: P&G Fiscal First-Quarter Net Sales Rise 4% to $23.3 Billion as Core EPS of $2.00 Tops Expectations
CINCINNATI — The Procter & Gamble Company (NYSE: PG) reported fiscal year 2027 first-quarter results before the bell on October 22. Net sales were $23.3 billion, an increase of four percent versus the prior year, and organic sales also rose four percent. Core earnings per share were $2.00, above the consensus expectation of about $1.88 reported earlier by GSM.
Diluted net earnings per share were $1.97, up one percent from $1.95 a year earlier, while core EPS rose one percent to $2.00 from $1.99. The company said higher operating costs partly offset the sales gain, with gross margin at 49.8 percent, down 160 basis points. Net earnings were $4.8 billion for the quarter and operating cash flow was $5.8 billion, with free cash flow productivity of 93 percent. P&G returned $3.9 billion to shareholders, via $2.6 billion of dividend payments and $1.3 billion of share repurchases.
By segment, organic sales rose five percent in Beauty, five percent in Grooming, five percent in Fabric & Home Care on volume gains in Fabric Care, three percent in Health Care, and three percent in Baby, Feminine & Family Care, led by Baby Care. Organic volume grew 2.4 percent, with a 1.1 percent favorable mix impact and 0.4 percent from pricing.
P&G updated its fiscal 2027 all-in sales growth outlook to a range of two to four percent to reflect the Thorne acquisition, effective October 1, 2026, while maintaining its outlook for organic sales growth, core EPS growth of in line to plus three percent ($6.89 to $7.11 per share), and cash returns.
来源：GSM·美国（原文链接）
图片来源：宝洁旗下汰渍（Tide）洗衣液产品资料图（Dinkun Chen 摄，CC BY-SA 4.0，经 Wikimedia Commons）。 / Tide laundry detergent, a Procter & Gamble brand, in a file photo (photo by Dinkun Chen, CC BY-SA 4.0, via Wikimedia Commons).
GSM Global · 本篇英文版 English edition of this story
- 2026-10-22 23:05宝洁盘前发布财年一季度业绩：市场预期每股收益1.88美元
- 2026-10-22 05:38跟进：宝洁财年一季度净销售额233亿美元增4% 核心每股收益2.00美元高于预期本篇
