P&G Announces Results for Second Quarter of Fiscal Year 2022

Today P&G reported strong results for the second quarter.

  • Net Sales +6%; Organic Sales up 6%;
  • Diluted EPS $1.66, +13% and Core EPS $1.66, +1%
  • Our progress enables us to confirm fiscal year EPS guidance, while increasing our estimates for top-line growth, cash productivity and cash return to shareowners.
P&G Q2 Earnings – By The Numbers

These strong Company results are grounded in broad-based category and geographic strength. Each of our 10 product categories grew or held organic sales in the quarter. Organic sales were up 9% in the U.S., up 7% in Enterprise markets, and up 6% in Focus markets.

Consumers continue to prefer P&G brands and the superior performance they provide, even as inflation is impacting household budgets. And our superiority strategy continues to drive both strong market growth and share growth for P&G.

Consumers Are Choosing P&G Brands

“We delivered very strong top-line growth and made sequential progress on earnings in the face of significant cost headwinds. These results keep us on track to deliver our earnings outlook and to raise estimates for sales growth, cash productivity and cash return to shareowners. Our focus remains on the strategies of superiority, productivity, constructive disruption and continually improving P&G’s organization structure and culture. These strategies have enabled us to build and sustain strong momentum. They remain the right strategies to deliver balanced growth and value creation,” said Jon Moeller, P&G’s President and Chief Executive Officer.

Jon Moeller Quote

Core earnings per share were $1.66, up 1% vs. the prior year. On a currency neutral basis, core EPS increased 2%. We returned nearly $7 billion dollars of cash to shareowners during the quarter – approximately $2.2 billion in dividends and $4.8 billion in share repurchase.

We remain focused on the three priorities that have been guiding our near-term actions and choices.

  • First, working to ensure the health and safety of our P&G colleagues around the world.
  • Second, maximizing the availability of products that help people and their families with their health, hygiene and cleaning needs.
  • Third, supporting the communities, relief agencies and people who are on the frontlines of this global pandemic.

Serving each of these three priorities are our strategic choices:

  • A portfolio of daily use products, many providing health, hygiene and cleaning benefits in categories where performance plays a significant role in brand choice.
  • Superior, science-based products delivered with superior packaging, retail execution, consumer communication and value…in all price tiers where we compete.
  • Cost and cash productivity...up and down the income statement and across the balance sheet…to fund investments in superiority, manage macro headwinds and build profit margin.
  • A mindset of constructive disruption. A willingness to change, adapt, and create new trends and technologies that will shape our industry for the future. In this environment, that agility and constructive disruption mindset are even more important.
  • A more empowered, agile and accountable organization with little overlap or redundancy, flowing to new demands, seamlessly supporting each other to deliver our priorities - around the world.

You can read the full details in today’s news release.

Slides with more detail and the webcast replay of earnings results are available at www.pginvestor.com/event.

Q2 earnings one pager

See www.pginvestor.com/event for P&G's full Q2 earnings release issued January 19, 2022, the associated webcast presentation, definitions of non-GAAP measures and reconciliation to the most closely related GAAP measure, as well as cautionary information on forward-looking statements, which are based on current assumptions and subject to risks and uncertainties that may cause actual results to differ materially.