Procter & Gamble Company (NYSE:PG) Q4 2024 Earnings Conference Call July 30, 2024 8:30 AM ET

Company Participants

Jon Moeller - Chairman, President, Chief Executive Officer
Andre Schulten - Chief Financial Officer

Conference Call Participants

Bryan Spillane - Bank of America
Dara Mohsenian - Morgan Stanley
Steve Powers - Deutsche Bank
Laura Lieberman - Barclays
Robert Ottenstein - Evercore ISI
Andrea Teixeira - JP Morgan
Filippo Falorni - Citi
Peter Grom - UBS
Bonnie Herzog - Goldman Sachs
Chris Carey - Wells Fargo Securities
Kevin Grundy - BNP Paribas
Olivia Tong - Raymond James
Mark Astrachan - Stifel
Kaumil Gajrawala - Jefferies
Robert Moskow - TD Cowen

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 will start with an overview of results for fiscal year ’24 and for the fourth quarter. Jon will add perspective on our strategic focus areas and capabilities and will close with guidance for fiscal ’25 and then take your questions.

Fiscal ’24 was another very strong year. Execution of our integrated strategies enabled the company to meet or exceed going-in guidance ranges for organic sales growth, core EPS growth, cash productivity and cash return to share owners, all this despite significant market level headwinds that were largely unknown when we gave our initial outlook for the year.

Organic sales growth for the fiscal year was 4%, our sixth consecutive year of 4% or better organic growth against a strong 7% comp in the prior year and in more challenging market conditions. Growth was broad-based across business units with eight of 10 product categories growing organic sales. Home care, hair care and grooming were up high single digits, oral care and feminine care up mid singles. Fabric care, family care, and personal healthcare grew low single digits. Skin and personal care and baby care were down low singles.