DetailsAdjusted earnings per share of $1.43, beating the analyst consensus estimate of $1.41. Sales rose 2% year over year (Y/Y) to $21.203 billion, which came below the consensus estimate of $21.379 billion.Sales benefited from favorable foreign exchange, while volume, pricing and mix had a neutral impact. Organic sales remained flat Y/Y in the quarter.Core gross margin remained flat Y/Y as gain of 160 basis points of productivity savings, 40 basis points of net tariff benefits, 20 basis points from other items, and 10 basis points from pricing were offset by 120 basis points of unfavorable product mix, 70 basis points of product and packaging reinvestments, and 40 basis points of higher commodity costs.Excluding 90 basis points of restructuring charges, core operating margin decreased 130 basis points, despite benefiting from 460 basis points of gross productivity savings.The company also announced that President and CEO Shailesh Jejurikar will assume the additional role of Board Chairman effective Aug. 1, succeeding Jon Moeller.Segment Details
Beauty delivered 4% Y/Y organic sales growth in the quarter, with Hair Care organic sales increasing in the mid-single digits, supported by volume growth in Asia Pacific and Europe, innovation-led pricing in Latin America and Asia Pacific, and a favorable geographic mix. Personal Care organic sales also rose by the mid-single digits, driven by volume growth across all regions and higher pricing, mainly in North America.
