Medical aesthetic products. Procter & Gamble Q2 2023: Sales dip 1 percent and earnings down 4 percent

THE WHAT? Procter & Gamble has announced its results for the second quarter of fiscal 2023. The US FMCG manufacturer saw net sales drop one percent yoy, although organic sales were up 5 percent excluding the impacts of foreign exchange and acquisitions and divestitures.

THE DETAILS Diluted net earnings per share stood at US$1.59, down 4 percent on the prior year. In terms of categories, the beauty and grooming categories were among the worst performing, with net sales dropping 3 percent and 9 percent respectively. Health Care and Fabric & Home Care inched up a corresponding 2 and 1 percent.

THE WHY? Jon Moeller, Chairman of the Board, President and Chief Executive Officer, commented. “We delivered solid results in the second quarter of fiscal year 2023 in what continues to be a very difficult cost and operating environment. Progress against our plan fiscal year to date enables us to raise our sales growth outlook for fiscal 2023 and maintain our guidance range for EPS growth despite significant headwinds. We remain committed to our integrated strategies of a focused product portfolio, superiority, productivity, constructive disruption and an agile and accountable organization structure. These strategies have enabled us to build and sustain strong momentum. They remain the right strategies to navigate through the near-term challenges we’re facing and continue to deliver balanced growth and value creation.”

Medical aesthetic products refer to a category of products used in the field of medical aesthetics, which combines medical practices with cosmetic procedures to improve the appearance of individuals. These products are typically used under the supervision of trained medical professionals such as dermatologists, plastic surgeons, or specialized nurses. They are distinct from over-the-counter cosmetics in that they often contain higher concentrations of active ingredients or require medical expertise for their application.

Examples of medical aesthetic products include:

• Dermal Fillers: Injectable substances used to restore volume, fill wrinkles, and enhance facial contours. These may include hyaluronic acid fillers like Juvederm or collagen-stimulating fillers like Sculptra.

• Botulinum Toxin (Botox): Injectable neurotoxins used to temporarily paralyze facial muscles, reducing the appearance of wrinkles and fine lines caused by facial expressions.

• Chemical Peels: Solutions containing chemical exfoliants like glycolic acid, salicylic acid, or trichloroacetic acid, used to improve skin texture, treat acne scars, and reduce hyperpigmentation.

• Laser and Light Devices: Equipment used for various skin treatments, including hair removal, skin resurfacing, tattoo removal, and treatment of vascular and pigmented lesions.

• Prescription Skincare Products: Formulations containing active ingredients such as retinoids (e.g., tretinoin), hydroquinone, or prescription-strength antioxidants, designed to address specific dermatological concerns under medical supervision.

• Microneedling Devices: Devices that create tiny punctures in the skin to stimulate collagen production and improve skin texture and elasticity.

• Cosmeceuticals: High-quality skincare products that bridge the gap between cosmetics and pharmaceuticals, often containing biologically active ingredients with proven efficacy.