Procter & Gamble Q4 2022: Sales up 3 percent; EPS rises 7 percent

Procter & Gamble Q4 2022: Sales up 3 percent; EPS rises 7 percent

THE WHAT? Procter & Gamble has published its results for the final quarter and full year of fiscal 2022. The US FMCG giant saw net sales rise 3 percent in the final quarter, giving rise to a 5 percent increase in net sales over fiscal 2022.

THE DETAILS Diluted net earnings per share were US$5.81, an increase of 6 percent versus the prior year GAAP EPS.

In terms of performance by sector, both beauty and grooming saw sales drop in the April to June 2022 quarter (-1 percent and -3 percent respectively), while health care, fabric and home care all gained ground, rising 5 percent, 4 percent and 3 percent respectively.

The company forecast sales growth of up to 2 percent for fiscal 2023 with net earnings per share rising 4 percent.

THE WHY? Jon Moeller, Chairman of the Board, President and Chief Executive Officer, commented, “Fiscal year 2022 was another strong year. 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. As we look forward to fiscal 2023, we expect another year of significant headwinds. We remain committed to our integrated strategies of superiority, productivity, constructive disruption and an agile and accountable organization structure. They remain the right strategies to step forward into the near-term challenges we are facing and continue to deliver balanced growth and value creation.”