Procter & Gamble Co (NYSE:PG) shares are trading lower after the company reported fourth-quarter FY24 sales of $20.53 billion (flat Y/Y), missing the analyst consensus estimate of $20.74 billion.
Organic sales, which excludes the impacts of foreign exchange and acquisitions and divestitures, increased 2%. A one percent increase in all-in volume and one percent increase due to higher pricing were offset by two percentage points of unfavorable foreign exchange impacts.
Sales in the Beauty segment fell 1%, the Grooming segment remained flat, and Health Care increased 3%.
Adjusted EPS of $1.40 beat the analyst consensus of $1.37.
Gross profit increased 2% Y/Y to $10.18 billion. The reported gross margin increased by 120 basis points to 49.6%.
Operating margin contracted 140 basis points to 18.9%, while operating income for the quarter fell 7% to $3.88 billion.
P&G held $9.48 billion in cash and equivalents as of June-end. Operating cash flow for the quarter was $5.75 billion.
The company returned over $14 billion of value to shareholders in FY24 via $9.3 billion in dividend payments and $5 billion of share repurchases.
"The team met or exceeded our going-in plans for organic sales growth, core EPS growth, cash generation and cash returned to shareowners in a challenging economic and geopolitical environment," said Board Chairman, President, and CEO Jon Moeller.
Outlook: P&G sees FY25 all-in sales growth of 2% – 4% and organic sales growth of 3% – 5%. This outlook equates to FY25 revenue of $85.72 billion – $87.40 billion versus an estimate of $86.856 billion.
P&G expects its fiscal 2025 core net earnings per share growth of 5% – 7% versus fiscal 2024 core EPS of $6.59. This outlook equates to FY25 adjusted EPS of $6.91 – $7.05 versus an estimate of $6.97.
P&G said it expects adjusted free cash flow productivity of 90% and expects to pay around $10 billion in dividends and to repurchase $6 to $7 billion of common shares in fiscal 2025.
Price Action: PG shares are trading lower by 5.40% at $160.75 in premarket on the last check Tuesday.
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寶潔公司（紐交所：PG）報告FY24第四季度銷售額爲205.3億美元（同比持平），低於分析師的共識預期207.4億美元，其股價下跌。
有機銷售額增長2％，排除了匯率和收購分離影響。總成交量增加1％，高價值增加1％，但外匯匯率影響不利，減少2個百分點。
美容板塊銷售下降1％，修剪板塊保持不變，而醫療保健板塊增長3％。
每股調整後的收益爲1.40美元，超過分析師共識的1.37美元。
毛利潤同比增長2％至101.8億美元。報告的毛利率增加了120個點子，至49.6％。
營業利潤率下降了140個點子，至18.9％，而本季度營業利潤下降了7％，至38.8億美元。
寶潔截至6月底持有94.8億美元的現金及等價物。本季度運營現金流爲57.5億美元。
該公司通過93億美元的股息支付和50億美元的股票回購，在FY24爲股東提供了超過140億美元的價值。
董事會主席，總裁兼首席執行官喬恩·莫勒表示：“在一個充滿挑戰的經濟和地緣政治環境中，團隊在有機銷售增長，核心每股收益增長，現金生成和現金返還股東方面達到或超過了我們的計劃。
展望：寶潔預計FY25所有板塊銷售額增長2％-4％，有機銷售額增長3％-5％。這一展望相當於FY25營收爲857.2億美元-874億美元，而估計爲868.56億美元。
寶潔預計其2025財年核心淨每股收益增長5％-7％，而2024財年核心每股收益爲6.59美元。這一展望相當於FY25調整後每股收益爲6.91美元-7.05美元，而估計爲6.97美元。
寶潔公司表示，預計調整後的自由現金流生產力爲90％，預計在2025財年支付約100億元的股息，並回購60億至70億美元的普通股。
價格走勢： 週二盤前，寶潔股價下跌 5.40%，報 160.75 美元。
來自Shutterstock的圖片
