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Procter & Gamble on Friday reported fiscal first-quarter earnings and revenue that beat analysts’ expectations, lifted by higher demand for its beauty and grooming products.

However, the company warned that it expects higher costs from tariffs in fiscal 2026, which began in July. Despite what CEO Jon Moeller called a “challenging consumer and geopolitical environment,” P&G reiterated its forecast for all-in sales and earnings for the fiscal year.

Shares of the company rose about 2% in premarket trading.

Here’s what the company reported for the quarter ended Sept. 30 compared with what Wall Street was expecting, based on a survey of analysts by LSEG:

• Earnings per share: $1.99 adjusted vs. $1.90 expected
• Revenue: $22.39 billion vs. $22.18 billion expected

P&G reported fiscal first-quarter net income attributable to the company of $4.75 billion, or $1.95 per share, up from $3.96 billion, or $1.61 per share, a year earlier.

Excluding items, including costs associated with incremental restructuring, the consumer giant earned $1.99 per share.

Net sales rose 3% to $22.39 billion. Organic sales, which strips out the impact of acquisitions, divestitures and foreign currency, increased 2% in the quarter

P&G’s volume was flat compared with the year-ago period. Volume excludes pricing, which makes it a more accurate reflection of demand than sales.

This story is developing. Please check back for updates.