P&G announced net sales of $20.6 billion, an increase of 1% in the first quarter of fiscal 2023. Moreover, when excluding the impact of foreign exchange, acquisitions and divestitures, organic sales increased by 7%. Diluted net income per share was $1.57, down two percent from the prior year’s earnings per share.
By contrast, operating cash flow was US$4.1 billion in the quarter. Adjusted free cash flow productivity was 86%. The company returned nearly $6.3 billion of cash to shareholders through approximately $2.3 billion of dividend payments and $4 billion of common stock repurchases.
Jon Moeller, Chairman and Chief Executive Officer, said, “We delivered solid results in our first quarter of fiscal 2023 in a very challenging operating and cost environment,” adding, “These results allow us to maintain our guidance ranges for organic sales and EPS growth for the fiscal year despite continued significant headwinds. We remain committed to our integrated strategies of a focused product portfolio, superiority, productivity, constructive disruption and an agile and accountable organizational structure. These strategies have enabled us to build and maintain strong momentum. They remain the right strategies to overcome the near-term challenges we face and continue to deliver balanced growth and value creation.”
Net sales in the first quarter of fiscal 2023 were $20.6 billion, up 1% year-over-year. Unfavorable foreign exchange had a six percent impact on net sales. Organic sales, which exclude the impacts of foreign exchange and acquisitions and divestitures, increased seven percent.
ROBOT SALES REACH A NEW RECORD HIGH IN NORTH AMERICA
HENKEL ANNOUNCES HIGHER-THAN-EXPECTED REVENUES
AMERICAN HORMEL FOODS ACHIEVES RECORD QUARTERLY SALES
RIO TINTO ACHIEVES EBITDA OF 15.6 BILLION DOLLARS
SILGAN ANNOUNCES RECORD FIRST-QUARTER EARNINGS AND RAISES EARNINGS GUIDANCE FOR THE REST OF THE YEAR
UNILEVER ANNOUNCES 7% SALES GROWTH DESPITE CHALLENGING ENVIRONMENT
HEINEKEN SALES RISE AS EUROPEAN CUSTOMERS RETURN TO PUBS
CARLSBERG EXPECTS EARNINGS SLOWDOWN IN 2022
MULTINATIONAL BALL CONFIRMS ITS STABILITY WITH SOLID RESULTS IN 2021
Ardagh Group’s record investment of $1.8 billion
