P&G Announces Results for the Fourth Quarter and Fiscal Year 2024

Excellent execution of our integrated strategy during the fiscal year — across portfolio, superiority, productivity, constructive disruption and organization — enabled strong sales, earnings and cash, as well as market share growth and an improving volume trajectory through the year as consumers continue to choose P&G brands.

READ OUR PRESS RELEASE HERE.

“Fiscal year 2024 was another year of strong results for P&G,” said Jon Moeller, Chairman of the Board, President and Chief Executive Officer. “The team met or exceeded our going-in plans for organic sales growth, core EPS growth, cash generation and cash returned to shareowners in a challenging economic and geopolitical environment. As we look forward to fiscal 2025, we expect to deliver strong organic sales growth, EPS growth and free cash flow productivity — each in-line with our long-term growth algorithm. We remain committed to our integrated strategy — a focused product portfolio of daily use categories where performance drives brand choice, superiority (of product performance, packaging, brand communication, retail execution and consumer and customer value), productivity, constructive disruption and an agile and accountable organization — all aimed at delivering sustainable, balanced growth and value creation.”

For the fiscal year:

• Organic sales grew 4% — broad based, with 8 of 10 product categories growing organic sales.
• Focus markets grew organic sales 4% and Enterprise markets grew 6%.
• Core earnings per share were up 12% versus the prior year. On a currency neutral basis, core EPS increased 16%.
• Adjusted free cash flow productivity was 105%.
• And as consumers continue to choose P&G brands, global aggregate value share was up versus prior year, with 30 of our top 50 category/country combinations holding or growing share.

P&G people continue to execute our strategy with excellence:

• A focused portfolio of products in daily use categories where performance drives brand choice.
• Irresistible superiority across the five vectors of product, package, brand communication, retail execution and value — holistically defined — to delight consumers and grow markets.
• Productivity improvement in all areas of our operations to fund investments in innovation, brand building and market growth, to mitigate cost and currency challenges, and to expand margins and generate cash.
• Constructive disruption of ourselves and our industry. A willingness to change, adapt and create new trends, technologies and capabilities that will shape the future of our industry.
• An empowered, agile and accountable organization that is inclusive and diverse — enabling us to better serve an increasingly diverse set of consumers.
• Strengthening this strategy through four areas of focus — supply chain, environmental sustainability, digital acumen and a superior employee value equation.

For a deeper dive into the results announced today read our press release. Slides and the webcast replay of earnings results are available at www.pginvestor.com/event.