P&G Reports Q4 and Full Year 2021 Results

P&G reported fourth quarter net sales of $18.9 billion, an increase of seven percent versus the prior year. The company’s fiscal year 2021 net sales were $76.1 billion, an increase of seven percent versus the prior year.
 
“We delivered another year of strong results with balanced top and bottom-line growth and strong cash generation, exceeding each of our in-going targets,” said David Taylor, chairman, president and CEO. “We built strong momentum prior to the pandemic and have strengthened our position further.”
 
Segments
 
Beauty segment organic sales increased six percent in the quarter versus a year ago. Skin and Personal Care organic sales increased double digits primarily driven by innovation, increased pricing and positive mix impact from the disproportionate growth of the super-premium SK-II brand, due to pandemic-related travel disruptions in the base period.
 
Hair Care organic sales increased low single digits primarily due to increased pricing, partially offset by negative mix from growth in emerging markets. Higher current year volumes in certain markets due to pandemic related shutdowns in the base period were offset by lower volumes in North America due to the impact of pandemic-related inventory restocking in the base period.
 
Grooming segment organic sales increased six percent versus year ago. Shave Care organic sales increased mid-single digits due to innovation, pricing and increased volume versus a base period that was negatively impacted by pandemic-related consumption decreases. Appliances organic sales increased mid-single digits due to the positive mix impact from the launch of premium products and increased pricing partially offset by lower volumes due to a pandemic-related consumption increase in the base period.
 
P&G expects fiscal year 2022 all-in sales growth in the range of two to four percent versus the prior fiscal year. The company expects organic sales growth also in the range of two to four percent.