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Procter & Gamble Company (PG+2.25%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing net sales of $21.9 billion, a 2% increase from the previous year. Operating income increased 30% to $5.7 billion, and net earnings rose 33% to $4.7 billion.
Net earnings attributable to Procter & Gamble were $4.6 billion, with diluted earnings per share at $1.88, reflecting a 34% increase from the previous year.
The company's gross margin decreased slightly to 52.4% due to unfavorable product mix and higher commodity costs, partially offset by manufacturing productivity savings.
Selling, general, and administrative expenses increased to $5.7 billion, representing 26.2% of net sales, up from 25.8% the previous year, due to increased marketing and overhead costs.
Procter & Gamble's effective income tax rate for the quarter was 20.3%, down from 22.3% in the previous year, driven by favorable geographic mix impacts.
In its segment results, Beauty net sales remained flat, while Grooming and Health Care segments saw increases of 1% and 2%, respectively. Fabric & Home Care and Baby, Feminine & Family Care segments also reported growth.
The company reported that its restructuring program, primarily in Argentina and Nigeria, led to incremental charges of approximately $1.2 billion after tax.
Procter & Gamble's operating cash flow for the fiscal year to date was $9.1 billion, a decrease from the prior year, primarily due to working capital impacts.
The company continues to focus on maintaining a competitive cost structure and managing risks associated with global economic conditions, foreign exchange fluctuations, and commodity price volatility.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Procter & Gamble Company quarterly 10-Q report dated January 22, 2025. To report an error, please email earnings@qz.com.