Today, Procter & Gamble (P&G) reported its financial results for the fiscal year 2024, revealing net sales of $84.0 billion, marking a two percent increase compared to the previous year. Organic sales, which exclude the impacts of foreign exchange and acquisitions and divestitures, saw a four percent rise, driven by higher pricing which contributed four points to the growth in organic sales. Shipment volumes and mix remained unchanged from the prior year.
For the fourth quarter of fiscal year 2024, P&G reported net sales of $20.5 billion, consistent with the previous year. A one percent increase in all-in volume and one percent increase due to higher pricing were counterbalanced by a two percentage point adverse impact from foreign exchange. Organic sales for the quarter rose by two percent. Excluding the impacts of acquisitions and divestitures, organic volume increased by two percent, with the mix having a neutral effect on sales growth.
Breaking down the performance by segment. The Beauty recorded net sales of $15.22 billion, a one percent year-over-year increase. Organic sales in this segment grew by three percent. Skin and Personal Care organic sales remained unchanged, as pricing gains were offset by lower sales of the super-premium SK-II brand and decreased sales in Greater China. Hair Care organic sales saw a high single-digit increase due to higher pricing and a favorable product mix driven by premium products.
Grooming achieved net sales of $6.654 billion, up four percent year-over-year. Organic sales in this segment rose by seven percent, primarily driven by increased pricing in Latin America and volume growth from innovation.
Health Care reported net sales of $11.793 billion, reflecting a five percent increase year-over-year. Organic sales increased by four percent, with Oral Care organic sales growing in high single digits due to a premium product mix and volume growth in North America and Europe. Personal Health Care organic sales were unchanged, as growth from pricing and volume increases were offset by an unfavorable mix due to a lower incidence of cough and cold.
Baby, Feminine & Family Care recorded net sales of $20.277 billion. Organic sales in this segment declined by one percent compared to the previous year. Baby Care organic sales decreased in mid-single digits due to volume declines from share losses, partially offset by a premium product mix. Feminine Care organic sales increased by low single digits, driven by higher pricing and a favorable product mix. Family Care organic sales remained unchanged, with volume growth offset by an unfavorable product mix.
P&G expects fiscal year 2025 all-in sales growth in the range of two to four percent versus the prior year. Foreign exchange is expected to be a headwind of approximately one percentage point to all-in sales growth. The Company expects organic sales growth in the range of three to five percent.
