---
schema_version: "secwatch.filing_event.v1"
accession: "0000080424-23-000039"
form_type: "8-K"
ticker: "PG"
cik: "0000080424"
company_name: "PROCTER & GAMBLE Co"
filed_at: "2023-04-21T23:59:59+00:00"
generated_at: "2026-06-16T21:54:42.573998+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# P&G Q3 net sales $20.1B (+4%), EPS $1.37 (+3%); raises FY sales guidance

## Summary
- Net sales $20.1B (+4% YoY), organic sales +7% on 10% pricing, partially offset by 3% volume decline.
- Operating cash flow $3.9B, adjusted free cash flow productivity 92%; returned $3.6B via dividends and buybacks.
- FY 2023 all-in sales guidance raised to ~1% (from down 1%-in-line); organic sales raised to ~6% (from 4-5%).
- Commodity and FX headwinds total $3.5B after-tax (~$1.40/share); EPS guidance maintained in-line to +4% but towards lower end.
- Dividend increased for 67th consecutive year; expects ~$9B dividends and $7.4-$8B share repurchases in FY23.

## SEC filing metadata
- accession: 0000080424-23-000039
- form_type: 8-K
- ticker: PG
- cik: 0000080424
- company_name: PROCTER & GAMBLE Co
- filed_at: 2023-04-21T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/80424/000008042423000039/0000080424-23-000039-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/80424/000008042423000039/pg-20230421.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000080424-23-000039
- JSON: https://secwatch.observer/filing/0000080424-23-000039.json
- Plain text: https://secwatch.observer/filing/0000080424-23-000039.txt

## Key facts
- Earnings Releases
  PROCTER & GAMBLE Co reported the quarter ended March 31, 2023 results: revenue $20.1 billion, net income $3.4 billion, EPS $1.37. Guidance raised.
  - Period: the quarter ended March 31, 2023
  - Revenue: $20.1 billion
  - Net income: $3.4 billion
  - EPS: $1.37
  - Guidance: raised
  - Result: reported results
  source text: reported third quarter fiscal year 2023 net sales of $20.1 billion, an increase of four percent versus the prior year. Organic sales, which excludes the impacts of foreign exchange and acquisitions and divestitures, increased seven percent. Diluted net earnings per share were $1.37, an increase of three percent versus prior year. Operating cash flow was $3.9 billion, and net earnings were $3.4 billion for the quarter.
  evidence_url: https://www.sec.gov/Archives/edgar/data/80424/000008042423000039/0000080424-23-000039-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.