Summary by Moomoo AI
Procter & Gamble reported solid financial results for fiscal year 2024, with net sales increasing 2% to $84.0 billion. Organic sales grew 4%, driven by higher pricing of 4% while volume and mix were unchanged. Foreign exchange had a negative 2% impact on sales. Operating income rose 2% to $18.5 billion despite a $1.3 billion non-cash impairment charge related to the Gillette intangible asset.The company delivered strong segment performance with mid-single-digit sales growth in Health Care, Fabric & Home Care and Grooming, and low single-digit growth in Beauty. Baby, Feminine & Family Care sales were unchanged. Gross margin expanded 350 basis points to 51.4% due to productivity savings, lower commodity costs and pricing benefits. SG&A expenses increased 200 basis points to 27.7% primarily due to higher marketing investments.Net earnings...Show More
