P&G says earnings for quarter, year hold steady

CINCINNATI — Procter & Gamble Co. recently reported results for the fourth quarter and for its 2017 fiscal year.

For the April-June 2017 quarter, net sales were $16.1 billion, unchanged versus the same quarter of 2016, including a negative 2 percentage point impact from foreign exchange. Diluted net earnings per share came in at 82 cents, an increase of 19 percent. Core earnings per share totaled 85 cents, an increase of 8 percent.

The company generated $3.7 billion of operating cash flow in the quarter.

For fiscal year 2017, net sales were $65.1 billion, unchanged versus the prior year, including a negative 2 percentage point impact from foreign exchange. Diluted net earnings per share were $5.59, an increase of 51 percent versus the prior year period. Core earnings per share were $3.92, an increase of seven percent versus the prior year period.

The company generated $12.8 billion of operating cash flow in fiscal 2017.

“We met or exceeded each of our going-in objectives for fiscal year 2017 in a challenging macro and competitive environment,” David Taylor, chairman, president and chief executive officer, said in a news release. “We made significant progress on our key priorities: accelerating organic sales growth, continuing to drive strong productivity improvement and cost savings, strengthening our organization and culture and completing moves to simplify and strengthen our product portfolio.”

The company is building a production facility at the Tabler Station Business Park off Interstate 81 in Berkeley County, W.Va. The plant is set to begin production in December.