P&G Full-Year Report 2023

The Procter & Gamble Company reported fourth quarter and fiscal year 2023 results.

The Company reported fiscal year 2023 net sales of $82.0 billion, an increase of two percent versus the prior year. Organic sales, which exclude the impacts of foreign exchange and acquisitions and divestitures, increased seven percent. The organic sales growth was due to a nine percent increase from higher pricing and a one percent increase from favorable mix, partially offset by a three percent decrease in shipment volumes.

Diluted net earnings per share were $5.90, an increase of two percent versus prior year. Currency-neutral net EPS increased 11% versus the prior year EPS.

The Company generated operating cash flow of $16.8 billion and net earnings of $14.7 billion for the fiscal year. Adjusted free cash flow productivity was 95%, which is calculated as operating cash flow less capital spending, as a percentage of net earnings. The Company returned over $16 billion of value to shareholders in fiscal 2023 via $9 billion in dividend payments and $7.4 billion of share repurchases. With the dividend increase in April 2023, this marks the 67th consecutive year that P&G has increased its dividend and the 133rd consecutive year that P&G has paid a dividend since its incorporation in 1890.