2022-08-04 15:52:33

P&G Shares Fourth Quarter and Full Year 2022 Results

2022-08-04 15:52:33

The Procter & Gamble Company (P&G) has reported its fourth quarter and fiscal year 2022 results.
 
The company reported fiscal year 2022 fourth quarter net sales of $19.5 billion, an increase of three percent versus the prior year. The growth was driven by an eight percent increase in pricing, partially offset by a one percent decrease in volume primarily due to pandemic-related lockdowns in Greater China and reduced operations in Russia.
 
Beauty segment organic sales were unchanged versus year ago. Hair Care organic sales increased low single digits due to increased pricing, partially offset by volume declines due to pandemic-related lockdowns in Greater China and reduced operations in Russia. Skin and Personal Care organic sales decreased low single digits driven by negative mix due to decline of the super-premium SK-II brand (impacted by pandemic-related lockdowns in China), partially offset by increased pricing and volume growth from innovation.
 
The company reported fiscal year 2022 net sales of $80.2 billion, an increase of five percent versus the prior year. The growth was broad-based driven by a two percent increase in organic volume, a four percent increase due to higher pricing and a one percent increase from positive mix.
 
“Fiscal year 2022 was another strong year,” said Jon Moeller, chairman of the Board, president and chief executive officer. “The P&G team’s execution of our integrated strategies delivered strong top-line growth, earnings growth, and significant cash return to shareowners in the face of severe cost and operational headwinds.”
 
P&G expects fiscal year 2023 all-in sales growth in the range of in-line to up two percent versus the prior fiscal year.