P&G Q1 FY 23/24 Earnings Release
Dear External Business Partners:
P&G released its first quarter earnings on Wednesday, October 18, 2023. During the July through September quarter, we reported net sales of $21.9 billion, an increase of six percent versus the prior year. Organic sales, which excludes the impacts of foreign exchange and acquisitions and divestitures, increased seven percent. Diluted net earnings per share were $1.83, an increase of 17% versus prior year. More details are provided in the chart below and in the press release here.
Our performance serves as a reflection of our dedication to staying committed to our integrated strategy of a focused product portfolio of daily use categories where performance drives brand choice, superiority — across product performance, packaging, brand communication, retail execution and consumer and customer value — productivity, constructive disruption and an agile and accountable organization. Executing our strategy with excellence has enabled strong momentum and by doing so we earn and build consumers’ trust in our business. To maintain this trust, we must continue to accelerate this progress and pay attention to core components of that trust such as protecting the information of our operations, our employees, customers and consumers. In few words, it is essential for all of us, including our external business partners, to remain vigilant and to raise the bar on cybersecurity standards.
To this end, it is worth highlighting that in today's digital landscape, cybercriminals pose a constant risk to organizations, including ours. There has been a concerning rise in impersonation attacks, affecting both P&G and its external business partners. Impersonation attacks involve cybercriminals disguising themselves as trusted entities to manipulate individuals and gain illicit access to sensitive information.
As an example, attackers can mask themselves as P&G Purchases resources and can ask you for some confidential info (e.g., contract information or banking details) or even to provide materials and services.
Any communications received outside of the standard P&G channels (e.g., coming from social media, SMS, etc.) needs to be validated directly with your main P&G contact using established P&G channels (e.g., verified email or phone number).
Please promptly report any suspicious activities or incidents to email@example.com and to your P&G contact.
To mitigate this threat and protect our collective interests, we strongly recommend continuous education of all your employees on the latest cyber threats, including impersonation attacks, and the adoption of up-to-date cybersecurity best practices.
We sincerely appreciate your cooperation and dedication to upholding the safeguarding of our mutual business interests. As always, I thank you for your continued partnership and support to our business.
Chief Purchasing Officer
*See P&G’s investor website (www.pginvestor.com) for P&G's full Q1 earnings release issued October 18, 2023, the associated webcast presentation, 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.