Procter & Gamble Co (NYSE:PG) stock fell 0.60% (As on October 20, 11:41:19 AM UTC-4, Source: Google Finance) after the company reported quarterly earnings and revenue that topped analysts’ estimates as higher pricing helped offset lower sales volume and currency headwinds. Adjusted free cash flow productivity was 86%. The Company returned nearly $6.3 billion of cash to shareholders via approximately $2.3 billion of dividend payments and $4 billion of common stock repurchases. Organic sales, which exclude the impacts of foreign exchange and acquisitions and divestitures, increased seven percent. The organic sales increase was driven by a nine percent increase from higher pricing and a one percent increase from positive product mix, partially offset by a three percent decrease in shipment volumes.

Moreover, Beauty segment organic sales increased four percent versus year ago. Skin and Personal Care organic sales increased mid-single digits due to innovation-driven volume growth and increased pricing, partially offset by negative mix from the decline of SK-II. Hair Care organic sales increased mid-single digits driven by increased pricing. Grooming segment organic sales increased five percent versus year ago due to increased pricing, partially offset by negative mix due to market slowdown of appliances. Health Care segment organic sales increased eight percent versus year ago. Oral Care organic sales increased low single digits due to increased pricing and favorable premium product mix. Personal Health Care organic sales increased high-teens due to increased pricing, favorable mix and volume growth driven by a stronger cough, cold and flu season. Fabric and Home Care segment organic sales increased eight percent versus year ago. Fabric Care organic sales increased high single digits due to increased pricing, partially offset by volume declines due to market contraction and market share softness, primarily in Europe.

PG in the first quarter of FY 23 has reported the adjusted earnings per share of $1.57, beating the analysts’ estimates for the adjusted earnings per share of $1.54, based on a survey of analysts by Refinitiv. The company had reported the adjusted revenue growth of 1 percent to $20.61 billion in the first quarter of FY 23, beating the analysts’ estimates for revenue of $20.28 billion. Unfavorable foreign exchange rates dragged revenue down by 6%.

P&G’s expects net sales for the year to decline 1% to 3%, lower than its previous outlook of flat to up 2%. It now forecasts earnings per share to be on the low end of its prior range of flat to up 4%.