Procter & Gamble has released its fourth quarter results that showed net sales of $18.9 billion, a 7% increase, as compared to the previous year.
The company's fiscal year 2021 net sales were $76.1 billion, also a 7% increase, as compared to the previous year.
Organic sales in the fourth quarter increased 4%. Diluted net earnings per share were $1.13 billion, an increase of 6% versus the prior year reported EPS and a decrease of 3% versus the prior year core earnings per share.
Gross profit for the fourth quarter was $9.1 billion.
Beauty segment organic sales increased 6% versus a year ago. Skin and personal care organic sales increased double digits, primarily driven by innovation, increased pricing and positive mix impact from the disproportionate growth of the super-premium SK-II brand due to pandemic-related travel disruptions in the base period.
Grooming segment organic sales increased 6% versus a year ago.
Hair care organic sales increased in low single digits primarily due to increased pricing, partially offset by a negative mix from growth in emerging markets.
Fiscal Year 2021
Organic sales during the fiscal year 2021 increased 6%, driven by a 3% increase in organic volume, a 2% impact from a positive mix and 1% from increased pricing.
Gross profit for fiscal year 2021 was $39 billion.
Diluted net earnings per share were $5.50 billion, an increase of 11% versus the prior year primarily due to the increase in net sales and an increase in operating margin.
The Company generated $18.4 billion of operating cash flow in fiscal 2021 with adjusted free cash flow productivity of 107%.
David Taylor, chairman, president and CEO said, “We delivered another year of strong results with balanced top and bottom-line growth and strong cash generation, exceeding each of our in-going targets. We built strong momentum prior to the pandemic and have strengthened our position further. As we look forward to fiscal 2022, we expect to continue to grow top-line and bottom-line and to deliver another year of strong cash return to shareholders despite a challenging cost and operating environment.”