P&G announces a rise in sales in its Q2 2024 financial results

The Procter & Gamble company, producers of household staple brands such as Pampers and Tide, reported net sales of $21.44 billion, a increase of three percent, in its Q2 2024 earnings today, with organic sales up four percent.

This was down marginally from Q1 2024’s sales of $21.9 billion, reported in October 2023, and slightly beneath expectations that the company would announce sales of around $21.48 billion.

Operating cash flow was $5.1 billion, and net earnings were $3.5 billion for the quarter. Adjusted free cash flow productivity was 95%, which is calculated as operating cash flow excluding capital spending, as a percentage of net earnings excluding the Gillette impairment charge. The Company returned $3.3 billion of cash to shareowners via approximately $2.3 billion of dividend payments and $1 billion of share repurchases.

In Q1 of 2024, operating cash flow was $4.9 billion, and net earnings were $4.6 billion for the quarter. Adjusted free cash flow productivity was 97 percent, which is calculated as operating cash flow excluding capital spending and certain other items, as a percentage of net earnings.

The company announced a 12 percent decrease in EPS at $1.40 for Q2, down from its Q1 2024 EPS of $1.83 and flat compared with the prior 2023 year’s Q2 earnings per share of $1.59.

Gross profits more than doubled to $11.2 billion in this past quarter, according to the company whereas, in Q1 2024, gross profits were $5.6 billion.