News Release


P&G Annouces First Quarter Earnings

Net Sales Unchanged; Organic Sales +3%; Diluted Net EPS $0.96, +5%; Core EPS $1.03, +5%
Wednesday, October 26, 2016 10:59 am BST


CINCINNATI, October 25, 2016 - The Procter & Gamble Company (NYSE:PG) reported first quarter fiscal year 2017 net sales of $16.5 billion, unchanged versus the prior year. Organic sales increased three percent. Organic sales increased in all five business segments driven by low-to-mid single digit organic volume growth in all segments. Diluted net earnings per share were $0.96, an increase of five percent versus the prior year. Core earnings per share were $1.03, an increase of five percent versus the prior year. Currency-neutral core EPS increased 12% versus the prior year. Reported operating profit margin was unchanged. Core operating profit margin increased 20 basis points as improvement in core gross margin was partially offset by an increase in core SG&A costs as a percent of net sales.


Operating cash flow was $3.0 billion for the quarter. Free cash flow productivity was 85%. The Company repurchased $1 billion of common stock and returned $1.9 billion of cash to shareholders as dividends.
Our first quarter results mark a good start to the fiscal year,” said Chairman, President and Chief Executive Officer David Taylor. “We delivered broad-based organic sales growth improvement across product categories and markets, as well as strong cost savings. Earlier this month, we completed the last major step in P&G’s portfolio transformation with the Beauty Brands divestiture to Coty Inc. We are now focusing all our efforts on 10 large, structurally attractive categories where P&G holds leading positions. We’re pleased with the progress we’re making, but there is still more work to do to get back to the levels of balanced top- and bottom-line growth and cash generation that will consistently put P&G shareholder value creation among the best in our industry.”

Link to Full News Release

P&G Media Contacts:
Damon Jones, 513-983-0190
Jennifer Corso, 513-983-2570
P&G Investor Relations Contact:
John Chevalier, 513-983-9974