P&G Full-Year Report 2024
“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.”
Highlights
- net sales of $84.0 billion, an increase of two percent versus the prior year. Organic sales, which excludes the impacts of foreign exchange and acquisitions and divestitures, increased four percent.
- Diluted net earnings per share were $6.02, an increase of two percent versus prior year as the increase in net sales was partially offset by a non-cash charge to impair the carrying value of the Gillette trade name intangible asset and higher non-core restructuring charges.
- Operating cash flow of $19.8 billion and net earnings of $15.0 billion for the fiscal year. Adjusted free cash flow productivity was 105%, which is calculated as operating cash flow less capital spending and certain other items, as a percentage of net earnings excluding the Gillette impairment charge and non-cash charge for accumulated foreign currency translation losses due to the substantial liquidation of operations in certain Enterprise Markets, including Nigeria.
