Procter & Gamble reported fiscal year 2024 net sales of $84 billion, an increase of 2% versus the prior year. Organic sales, which excludes the impacts of foreign exchange and acquisitions and divestitures, increased 4%. Higher pricing contributed four points of growth to organic sales. Shipment volumes and mix were unchanged versus the prior year.

The company reported fiscal year 2024 fourth quarter net sales of $20.5 billion, unchanged versus the prior year. A 1% increase in all-in volume and 1% increase due to higher pricing were offset by two percentage points of unfavorable foreign exchange impacts. Organic sales, which excludes the impacts of foreign exchange and acquisitions and divestitures, increased 2%. Excluding the impacts of acquisitions and divestitures, organic volume increased 2%. Mix had a neutral impact on sales growth for the quarter.

In the fourth quarter of 2024, Baby, Feminine and Family Care segment organic sales declined 1% versus year ago. Baby Care organic sales decreased mid-single digits due to volume declines from share losses, partially offset by premium product mix. Feminine Care organic sales increased low single digits driven by increased pricing and favorable product mix. Family Care organic sales were unchanged as volume growth was offset by unfavorable product mix.

“Fiscal year 2024 was another year of strong results for P&G,” says Jon Moeller, chairman of the Board, president and CEO. “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. As we look forward to fiscal 2025, we expect to deliver strong organic sales growth, EPS growth and free cash flow productivity – each in-line with our long-term growth algorithm. We remain committed to our integrated strategy – a focused product portfolio of daily use categories where performance drives brand choice, superiority (of product performance, packaging, brand communication, retail execution and consumer and customer value), productivity, constructive disruption and an agile and accountable organization – all aimed at delivering sustainable, balanced growth and value creation.”