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Procter & Gamble | 10-Q: Quarterly report

SEC announcement ·  Apr 20 04:22
Summary by Futu AI
Procter & Gamble (P&G) reported a modest 1% increase in net sales for the quarter ended March 31, 2024, reaching $20.2 billion, driven by a combination of higher pricing and volume growth, which were partially offset by unfavorable foreign exchange impacts. The company's operating income rose by 5% to $4.5 billion, while net earnings saw a significant 10% increase to $3.8 billion. Diluted earnings per share (EPS) also improved by 11% to $1.52. For the nine-month period, net sales grew by 3% to $63.5 billion, with organic sales, which exclude the impacts of acquisitions, divestitures, and foreign exchange, increasing by 4%. The company's net earnings for the nine-month period were up by 4% to $11.8 billion, and diluted EPS increased by 5% to $4.75. P&G's business development was marked by a...Show More
Procter & Gamble (P&G) reported a modest 1% increase in net sales for the quarter ended March 31, 2024, reaching $20.2 billion, driven by a combination of higher pricing and volume growth, which were partially offset by unfavorable foreign exchange impacts. The company's operating income rose by 5% to $4.5 billion, while net earnings saw a significant 10% increase to $3.8 billion. Diluted earnings per share (EPS) also improved by 11% to $1.52. For the nine-month period, net sales grew by 3% to $63.5 billion, with organic sales, which exclude the impacts of acquisitions, divestitures, and foreign exchange, increasing by 4%. The company's net earnings for the nine-month period were up by 4% to $11.8 billion, and diluted EPS increased by 5% to $4.75. P&G's business development was marked by a focus on innovation and market growth, particularly in the Fabric & Home Care segment, which reported a 5% increase in net sales and a 26% rise in net earnings. The company's future plans include ongoing restructuring activities aimed at maintaining a competitive cost structure and addressing challenging macroeconomic conditions in certain markets. P&G's liquidity remains strong, with operating cash flow reaching $14.1 billion for the fiscal year to date.

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