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Jun 30, 2021
Procter & Gamble Q4 2021 Earnings Report
Procter & Gamble announced Q4 and Fiscal Year 2021 results, exceeding targets with balanced growth and strong cash generation.
Key Takeaways
Procter & Gamble reported a 7% increase in net sales for Q4 2021, reaching $18.9 billion. Diluted net EPS increased by 6% to $1.13. Organic sales grew by 4%.
Net sales increased by 7% versus the prior year.
Organic sales increased by 4% driven by volume, pricing and mix.
Diluted net earnings per share increased by 6% versus the prior year reported EPS.
The company expects to continue to grow top-line and bottom-line in fiscal year 2022.
Procter & Gamble
Procter & Gamble
Procter & Gamble Revenue by Segment
Revenue by Segment
Beauty Revenue
CapyFin.comGrooming Revenue
CapyFin.comHealth Care Revenue
CapyFin.comFabric & Home Care Revenue
CapyFin.comBaby, Feminine & Family Care Revenue
CapyFin.comCorporate Revenue
CapyFin.com Forward Guidance
P&G expects fiscal year 2022 all-in sales growth in the range of two to four percent and organic sales growth also in the range of two to four percent. P&G expects fiscal 2022 GAAP diluted net earnings per share growth in the range of six to nine percent versus fiscal 2021 GAAP EPS of $5.50. Core earnings per share growth for fiscal 2022 is expected to be in the range of three to six percent versus fiscal 2021 core EPS of $5.66.
Positive Outlook
- All-in sales growth in the range of two to four percent.
- Organic sales growth also in the range of two to four percent.
- GAAP diluted net earnings per share growth in the range of six to nine percent.
- Core earnings per share growth in the range of three to six percent.
- Expects to pay over $8 billion in dividends and repurchase $7 billion to $9 billion of common shares in fiscal 2022.
Challenges Ahead
- Headwinds of approximately $1.9 billion after-tax from higher commodity costs and freight costs.
- Foreign exchange benefits of approximately $100 million after-tax, partially offsetting headwinds.
- The combined impact of commodities, freight and foreign exchange is approximately a $0.70 per share headwind to fiscal year 2022 EPS.
- Core effective tax rate in the range of 18% to 19% in fiscal 2022.
- Capital spending is estimated to be in the range of 4% to 5% of fiscal 2022 net sales.
Revenue & Expenses
Visualization of income flow from segment revenue to net income