P&G Beats Expectations, Projects $150 Million of Commodity Costs

Procter & Gamble Co. reported stronger-than-expected results for its latest quarter, but warned that rising oil prices caused by the war in the Middle East could lead to additional costs of $1 billion in its next fiscal year.

Organic sales, which strip out items such as acquisitions and currency variations, rose 3% in the company’s fiscal third quarter ended March 31, surpassing the most optimistic of analyst estimates compiled by Bloomberg. It was the highest organic growth in more than a year.