Procter & Gamble’s fourth quarter earnings were a mixed bag.
The consumer goods giant reported fiscal year 2024 fourth quarter net sales of $20.5 billion, unchanged versus the prior year, but lower than analysts’ forecast of $20.73 billion. Diluted net earnings per share were $1.40, however, 3 cents above Wall Street estimates.
Beauty segment organic sales increased three percent versus a year ago. Skin and personal care organic sales were unchanged as growth from increased pricing was offset by lower sales of the SK-II brand and in Greater China. Hair care organic sales increased high single digits driven by higher pricing and favorable product mix due to growth of premium products.
Grooming segment organic sales rose seven percent, driven by increased pricing primarily in Latin America and volume growth from innovation.
“Fiscal year 2024 was another year of strong results for P&G,” said Jon Moeller, chairman of the board, president and chief executive officer. “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.”
P&G expects fiscal year 2025 sales growth in the range of two to four percent versus the prior year. The company expects organic sales growth in the range of three to five percent.
