Procter & Gamble (NYSE: PG) reported Q1 EPS of $0.98, $0.02 better than the analyst estimate of $0.96. Revenue for the quarter came in at $16.5 billion versus the consensus estimate of $17.35 billion.

• Beauty segment organic sales decreased two percent as lower organic volume was partially offset by a positive one percent impact from both pricing and mix. Volume decreased in Skin and Personal Care due to competitive activity and portfolio SKU reductions, partially offset by growth from marketing and innovation on the super-premium SK-II brand. Hair Care volume declined due to competitive activity and price increases in the previous fiscal year.
• Grooming segment organic sales were unchanged as higher pricing on Blades & Razors and growth on Braun from innovation and increased trade support was offset by negative geographic and product mix and lower volume in Blades & Razors due to competitive activity and previous fiscal year price increases.
• Health Care segment organic sales decreased one percent as lower volume was partially offset by favorable geographic mix and increased pricing in both Oral Care and Personal Health Care. Volume declined in both businesses following strong base period innovation, primarily in oral care, and due to competitive activity and increased pricing.
• Fabric Care and Home Care segment organic sales were unchanged versus year ago as pricing and mix benefits offset lower volume. Organic sales in Home Care were in line with last year as pricing and mix benefits from innovation were offset by lower volume due to competitive activity. Fabric Care organic sales were flat as product mix benefits were offset by lower volume mainly due to de-prioritizing less profitable brands and products and increased competitive activity.
• Baby, Feminine and Family Care segment organic sales declined three percent versus year ago as pricing benefits in Baby Care and Feminine Care along with mix benefits in Baby Care and Family Care were more than offset by lower volume in each of the three businesses. Baby Care volume declined due to competitive activity and increased pricing. Feminine Care volume declined due to price increases in the previous fiscal year. Family Care volume decreased due to exiting under-performing product lines in Mexico.

Guidance:

P&G lowers its core EPS outlook for FY15 from $4.02 down to $3.76. The Street was modeling EPS of $3.77.

For earnings history and earnings-related data on Procter & Gamble (PG) click here.