08:23 AM EDT, 04/19/2024 (MT Newswires) -- Procter & Gamble ( PG ) on Friday raised its full-year core earnings growth outlook as the consumer-goods company reported better-than-expected fiscal third-quarter earnings.

The maker of Crest toothpaste and Pampers diapers now anticipates adjusted earnings to rise by 10% to 11% for fiscal 2024, above its prior guidance for an 8% to 9% annual increase. The consensus among analysts on Capital IQ is for normalized EPS of $6.41.

The company continues to expect revenue growth of 2% to 4% and organic sales to move 4% to 5% higher for the fiscal year. The Street is looking for revenue of $84.75 billion. Foreign-exchange rates are now set to be headwind of about $600 million after tax, down from the previous guidance of roughly $1 billion.

"We delivered solid sales and strong earnings growth in the third quarter despite multiple headwinds, enabling us to raise our EPS growth guidance and maintain our top-line outlook for the fiscal year," Chief Executive Jon Moeller said in a statement. "We are increasing investments in superiority to drive market growth and sustain strong momentum."

For the three months ended March, Procter & Gamble's ( PG ) adjusted EPS jumped 11% to $1.52, ahead of the Street's view for $1.41. Sales edged up to $20.2 billion from $20.07 billion the year before, but were just shy of analysts' $20.44 billion estimate.

The company reported an overall 3% increase in pricing, while volume remained flat. Sales in the beauty segment rose 2% to $3.55 billion, while grooming rose 3% to $1.54 billion. Healthcare and fabric and home sales each gained 2%, while the baby, feminine and family care division declined by the same percentage.

Gross margin expanded by 300 basis points due to higher prices, favorable commodity costs and productivity savings. Selling, general and administrative expenses widened to $5.88 billion from $5.42 billion in the 2023 quarter, according to the company.