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<p class="has-drop-cap">The Procter &amp; Gamble Company (NYSE: PG) reported its <a aria-label="fourth quarter and fiscal year 2024 results (opens in a new tab)" href="https://pginvestor.com/financial-reporting/press-releases/news-details/2024/PG-Announces-Fourth-Quarter-and-Fiscal-Year-2024-Results/default.aspx" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">fourth quarter and fiscal year 2024 results</a>, showcasing a mixed performance. Net sales for the fourth quarter remained flat at $20.5 billion, unchanged from the prior year. However, organic sales, which exclude the impacts of foreign exchange and acquisitions and divestitures, increased by 2%.</p>
<p>This growth was primarily driven by a 1% increase in all-in volume and a 1% increase due to higher pricing, offset by a 2% unfavorable foreign exchange impact. Diluted net <a href="https://tokenist.com/investing/how-to-value-a-stock/" rel="noopener noreferrer nofollow" class="deco-link">earnings per share (EPS)</a> for the fourth quarter were $1.27, a 7% decline compared to the previous year. <br><br>The decrease was primarily attributed to higher restructuring charges related to the substantial liquidation of operations in certain Enterprise Markets, including Nigeria. On a positive note, core net earnings per share, which exclude non-recurring items, rose by 2% to $1.40.</p>
<p>Currency-neutral core EPS saw a more substantial increase of 6% versus the prior year.P&amp;G’s various segments showed varied performance. <br><br>The Beauty segment saw a 3% increase in organic sales, driven by higher pricing and favorable product mix. Grooming’s organic sales increased by 7%, primarily due to pricing gains in Latin America and volume growth from innovation. <br><br>Health Care and Fabric &amp; Home Care segments also posted organic sales growth of 4% and 2%, respectively. However, the Baby, Feminine, and Family Care segment saw a 1% decline in organic sales.</p>
<h3 id="procter-gamble-report-mixed-fourth-quarter-performance">Procter &amp; Gamble Report Mixed Fourth-Quarter Performance</h3>
<p>Procter &amp; Gamble’s fourth-quarter performance was mixed compared to market expectations. The company reported a diluted EPS of $1.27, falling short of the expected $1.37, marking a 7% decline from the previous year. However, the core EPS of $1.40 slightly exceeded the expectation of $1.37, reflecting a 2% increase.</p>
<p>This discrepancy highlights the impact of non-recurring items such as restructuring charges on the company’s profitability. In terms of revenue, P&amp;G reported net sales of $20.5 billion for the fourth quarter, slightly below the market expectation of $20.73 billion. The flat performance in net sales was primarily due to unfavorable foreign exchange impacts, offsetting gains from increased volume and pricing.</p>
<p>Organic sales growth of 2% was in line with the company’s internal targets but did not meet the higher market expectations. The fiscal year 2024 results also showed a similar trend. P&amp;G’s net sales for the year were $84.0 billion, a 2% increase from the previous year, but the growth was modest compared to the 4% increase in organic sales. Diluted EPS for the fiscal year was $6.02, a 2% increase, while core EPS saw a robust 12% growth to $6.59. <br><br>The company’s strong cash flow generation and shareholder returns, including $9.3 billion in dividend payments and $5 billion in share repurchases, were highlights of the fiscal year.</p>
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<h3 id="pg-expects-organic-sales-growth-in-range-of-3-to-5-for-fiscal-year-2025">PG Expects Organic Sales Growth in Range of 3% to 5% for Fiscal Year 2025</h3>
<p>Procter &amp; Gamble has provided guidance for fiscal year 2025, expecting all-in sales growth of 2% to 4% versus the prior year. The company anticipates a headwind of approximately 1% from foreign exchange impacts, but it expects organic sales growth of 3% to 5%.</p>
<p>This outlook reflects P&amp;G’s confidence in its ability to drive growth through pricing and innovation, despite external challenges. P&amp;G projects fiscal 2025 diluted net earnings per share growth in the range of 10% to 12% compared to fiscal 2024 GAAP EPS of $6.02. Core EPS growth is expected to be between 5% and 7%, equating to a range of $6.91 to $7.05 per share.</p>
<p>The midpoint estimate of $6.98 represents a 6% increase from the previous year. The company also anticipates a net headwind of around $500 million after-tax from unfavorable commodity costs and foreign exchange, equating to a $0.20 per share drag on core EPS growth. <br><br>P&amp;G expects a core effective tax rate of 20% to 21% for fiscal 2025. Capital spending is projected to be in the range of 4% to 5% of net sales. The company also plans to maintain strong shareholder returns, with an expected $10 billion in <a href="https://tokenist.com/investing/what-is-dividend-investing/" rel="noopener noreferrer nofollow" class="deco-link">dividend payments</a> and $6 to $7 billion in <a href="https://tokenist.com/investing/what-is-a-stock-buyback/" class="deco-link" rel="noopener noreferrer nofollow">share repurchases</a> for the fiscal year.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p>
<h3 id="br"><br></h3>
<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/procter-gambles-pg-mixed-q4-diluted-eps-falls-short-at-1-27/">Procter &amp; Gamble’s (PG) Mixed Q4: Diluted EPS Falls Short at $1.27</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Procter & Gamble’s (PG) Mixed Q4: Diluted EPS Falls Short at $1.27

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