Procter & Gamble (P&G) reported fiscal year 2022 net sales of $80.2 billion, an increase of 5% versus the prior year. Excluding the impacts of foreign exchange, acquisitions and divestitures, organic sales increased 7%. The growth was broad-based driven by a 2% increase in organic volume, a 4% increase due to higher pricing and a 1% increase from positive mix.

“Fiscal year 2022 was another strong year,” says Jon Moeller, chairman of the Board, president and chief executive officer. “The P&G team’s execution of our integrated strategies delivered strong top-line growth, earnings growth, and significant cash return to shareowners in the face of severe cost and operational headwinds. As we look forward to fiscal 2023, we expect another year of significant headwinds. We remain committed to our integrated strategies of superiority, productivity, constructive disruption and an agile and accountable organization structure. They remain the right strategies to step forward into the near-term challenges we are facing and continue to deliver balanced growth and value creation.”

The company reported fiscal year 2022 fourth quarter net sales of $19.5 billion, an increase of 3% versus the prior year. Excluding the impacts of foreign exchange, acquisitions and divestitures, organic sales increased 7%. The growth was driven by an 8% increase in pricing, partially offset by a 1% decrease in volume primarily due to pandemic-related lockdowns in Greater China and reduced operations in Russia. Mix was neutral to net sales growth for the quarter.

In the fourth fiscal quarter, Baby, Feminine and Family Care segment organic sales increased 7% versus year ago. Baby Care organic sales increased mid-single digits due to increased pricing, partially offset by lower volumes due to reduced operations in Russia and competitive activity in developed markets. Feminine Care organic sales increased low teens with growth in all regions. The growth was driven primarily by increased net pricing and positive product mix, partially offset by lower volumes due to reduced operations in Russia. Family Care organic sales increased mid-single digits due to increased net pricing and volume growth from innovation and increased promotional activity.