Procter & Gamble Co. raised its full-year sales forecast Wednesday as consumer demand for cleaning and personal healthcare products remains resilient despite rising prices, sending its shares up 1.7% in premarket trading.

The company, however, warned that higher commodity and freight costs could dent its annual core earnings per share, which it now expects at the low-end of 3% to 6% growth that was predicted in January.

The consumer goods giant said it expects fiscal 2022 sales to rise 4% to 5%, compared with its prior forecast of a 3% to 4% increase.

The Tide detergent maker said net sales rose 7% to $19.38 billion in the quarter ended March 31, compared with analysts' estimates of $18.73 billion, according to Refinitiv data.

The company's shares were trading up at $162.13 before the opening bell.