On Thursday, the Procter & Gamble Company (NYSE: PG), which is the world's largest consumer products maker, posted its financial results for the fourth quarter of 2017, with both earnings and revenue beating estimates.
In the statement, the company announced that revenue for the fourth quarter was $16.08 billion, beating estimates of $16.02 billion. Organic sales rose 2%, motivated by 2% increase in organic shipment volume. Earnings per share was $0.85 per share, also surpassing expectations of $0.78 per share. Diluted net earnings per share increased 19% to $0.82 per share. For the fourth quarter, the company said that it generated operating cash flow of $3.7 billion.
For the fiscal year 2017, the company reported net sales of $65.1 billion, which included a negative 2% impact from foreign exchange. Diluted net earnings per share increased 51% from the prior year to $5.59 per share. For the full year 2017, the company generated operating cash flow of $12.8 billion.
“We met or exceeded each of our going-in objectives for fiscal year 2017 in a challenging macro and competitive environment,” David Taylor, the Chairman, President and Chief Executive Officer of the company, said in the statement on Thursday.
“Looking forward, we will continue to drive productivity improvement and cost savings to provide the fuel for investments needed to accelerate and sustain faster top-line growth while expanding operating profit margin. Our long-term objective is to deliver results at levels that support our goal of balanced growth and value creation and operating total shareholder return in the top third of our competitive peer group,” he said.