Today, P&G released its 2022 Annual Report highlighting all that’s been accomplished in the fiscal year. Despite a very difficult operating environment, P&G people across the globe delivered strong results that either met or exceeded our going-in target ranges for the fiscal year.
As previously announced, our strong momentum continued with a 7% increase in organic sales, core earnings per share were up 3%, and adjusted free cash flow productivity was 93%.
We returned nearly $19 billion in value to shareowners. We increased our dividend for the 66th straight year - this time by 5 percent - and have been paying a dividend for 132 consecutive years.
We know these results are a testament to P&G people around the globe who are devoted to serving consumers’ everyday needs through our integrated strategy and our continued commitment to serving and balancing the needs of consumers, customers, employees, society and shareowners as a Force for Growth and a Force for Good.
Our Integrated Growth Strategy
We are focused on delighting and serving consumers, customers, society and shareowners through five strategic and integrated choices:
- A focused portfolio of daily-use categories where performance drives brand choice;
- Superiority across product, package, brand communication, retail execution and value;
- Productivity improvements in cost and cash to fund investments and improve profitability;
- Constructive disruption in all facets of our operations; and
- A more focused, agile, accountable organization and culture.
These are not independent strategic choices. They reinforce and build on each other, and when executed well, they lead to balanced top- and bottom-line growth and value creation.
This strategy coupled with our Environmental, Sustainability and Governance (ESG) work is at the core of what we do. To learn more about P&G’s ESG efforts visit our ESG Investor Portal, click here, and to read our latest Citizenship Report, click here.
In his letter to shareholders, Chairman, President and CEO Jon Moeller closed by stating, “Confidence in our future success is rooted in my confidence in P&G people. Every day P&G people demonstrate their commitment to our Purpose, Values, and Principles, their high motivation to win, their personal accountability to winning results, and their strong focus on sustained excellence in everything they do – serving consumers, serving customers, and delivering for shareowners.”
To read his full letter, explore superiority at P&G across our categories, and dig deeper into the 2022 Annual Report, click here.
See https://www.pg.com/annualreport2022 for P&G's full 2022 Annual Report, definitions of non-GAAP measures and reconciliation to the most closely related GAAP measure, as well as cautionary information on forward-looking statements, which are based on current assumptions and subject to risks and uncertainties that may cause actual results to differ materially.