The Procter & Gamble Company (PG) CEO Jon Moeller on Q4 2022 Results - Earnings Call Transcript

The Procter & Gamble Company (NYSE:PG) Q4 2022 Earnings Conference Call July 29, 2022 9:00 AM ET

Company Participants

Andre Schulten - Chief Financial Officer

Jon Moeller - President & Chief Executive Officer

John Chevalier - SVP, IR

Conference Call Participants

Bryan Spillane - Bank of America

Stephen Powers - Deutsche Bank

Dara Mohsenian - Morgan Stanley

Lauren Lieberman - Barclays

Jason English - Goldman Sachs

Kevin Grundy - Jefferies

Robert Ottenstein - Evercore ISI

Kaumil Gajrawala - Credit Suisse

Christopher Carey - Wells Fargo

Andrea Teixeira - JPMorgan

Bill Chappell - Truist Securities

Olivia Tong - Raymond James

Mark Astrachan - Stifel

Operator

Good morning and welcome to Procter & Gamble's Quarter End Conference Call. Today's event is being recorded for replay.

This discussion will include a number of forward-looking statements. If you will refer to P&G's most recent 10-K, 10-Q and 8-K reports, you will see a discussion of factors that could cause the company's actual results to differ materially from these projections. As required by Regulation G, Procter & Gamble needs to make you aware that during the discussion, the company will make a number of references to non-GAAP and other financial measures. Procter & Gamble believes these measures provide investors with useful perspective on underlying business trends and has posted on its Investor Relations website, www.pginvestor.com, a full reconciliation of non-GAAP financial measures.

Now I will turn the call over to P&G's Chief Financial Officer, Andre Schulten.

Andre Schulten

Good morning, everyone. Joining me on the call today are Jon Moeller, Chairman of the Board, President and Chief Executive Officer; and John Chevalier, Senior Vice President, Investor Relations.

I'll start with an overview of results for fiscal year '22 and the fourth quarter. Jon will add perspective on our strategic focus areas. We'll close with guidance for fiscal '23 and then take your questions.

Fiscal 2022 was another very strong year. Execution of our integrated strategies continues to yield strong sales, earnings and cash results in an incredibly difficult operating environment. We delivered broad-based strong top line growth across categories and regions, earnings growth in the face of significant cost headwinds, continued strong return of cash to P&G shareowners.

Organic sales for the fiscal grew 7%, up 13% on a two-year stack, up 19% on a three-year stack. Growth was broad-based across business units with all 10 of our product categories growing organic sales. Personal Health Care grew 20%. Fabric Care and Feminine Care grew double digits; Baby Care, up high single digits; Oral Care and Grooming, up mid-single digits; Hair Care, Home Care, Skin and Personal Care and Family Care each grew low singles; Focus Markets were up 5% for the year; Enterprise Markets, 10%.