01.24.18
Procter & Gamble reported second quarter fiscal year 2018 net sales of $17.4 billion, an increase of 3% versus the prior year. Organic sales increased 2%. Diluted net earnings per share were $0.93, a decline of 68% versus the prior year due to the Beauty Brands divestiture gain in the base period and a current period net income tax charge related to the recently enacted U.S. Tax Cuts and Jobs Act. Core earnings per share increased 10% to $1.19, including a $0.05 per share benefit from the Tax Act.
David Taylor, chairman, president and chief executive officer, said, “We accelerated organic sales growth and delivered strong productivity cost savings and cash flow. We remain on track to achieve our fiscal year objectives.”
In the Beauty segment, Net Sales increased 10%, reaching $3.23 billion for the quarter ended December 31, 2017. Skin & Personal Care organic sales grew double digits driven by Olay and SK-II. Hair Care organic sales increased low single digits driven by growth of all major brands—Pantene, Head & Shoulders, Herbal Essences and Rejoice.
David Taylor, chairman, president and chief executive officer, said, “We accelerated organic sales growth and delivered strong productivity cost savings and cash flow. We remain on track to achieve our fiscal year objectives.”
In the Beauty segment, Net Sales increased 10%, reaching $3.23 billion for the quarter ended December 31, 2017. Skin & Personal Care organic sales grew double digits driven by Olay and SK-II. Hair Care organic sales increased low single digits driven by growth of all major brands—Pantene, Head & Shoulders, Herbal Essences and Rejoice.
