P&G beats estimates as price hikes haven't hurt demand yet

Procter & Gamble's ( PG ) price hikes aren't crushing a consumer base dealing with higher inflation, yet.

The Tide maker delivered sales and profit upside for its fiscal first quarter on Thursday. The company maintained its full-year sales and profit outlooks.

"The US consumer is remarkably resilient," P&G CFO Andre Schulten told Yahoo Finance.

Schulten said the business is being powered by higher income households, while the lower end is being more cautious.

P&G shares rose 2% in pre-market trading.

Net sales: $23.28 billion, +4% from the prior year vs. $22.82 billion estimate

Organic sales growth: +4% vs. +1.96% estimate Beauty segment organic revenue growth: +5.4% vs. +3.58% estimate Grooming segment organic revenue growth: +4.5% vs. +0.7% estimate Healthcare segment organic revenue growth: +2.7% vs. +2.51% estimate Fabric and home care segment organic revenue growth: +4.8% vs. +2.35% estimate Baby, feminine, and family care segment organic revenue growth: +3% vs. +0.99% estimate

Organic sales growth: +4% vs. +1.96% estimate

Beauty segment organic revenue growth: +5.4% vs. +3.58% estimate

Grooming segment organic revenue growth: +4.5% vs. +0.7% estimate

Healthcare segment organic revenue growth: +2.7% vs. +2.51% estimate

Fabric and home care segment organic revenue growth: +4.8% vs. +2.35% estimate

Baby, feminine, and family care segment organic revenue growth: +3% vs. +0.99% estimate

Adjusted earnings per share: $2.00, +1% from the prior year vs. $1.89 estimate

What else caught our attention: A sustained outlook

P&G reiterated organic sales growth of 1% to 3% for its fiscal year.

For the year, earnings are still expected to range from $6.89 to $7.11. Analysts were looking for fiscal year 2027 organic revenue growth of 2.19% and core earnings per share of $6.98.

Brian Sozzi is Yahoo Finance's Executive Editor, host of the Sozzi Unleashed morning show and the Power Players with Brian Sozzi podcast, and a member of Yahoo Finance's editorial leadership team.