Consumer Staples
Household & Personal Products
$414.56B
108K
Key insights and themes extracted from this filing
Net sales increased 2% to $84.0 billion in fiscal year 2024, with pricing contributing 4% and unfavorable foreign exchange offsetting 2%. Organic sales growth, excluding acquisitions, divestitures, and foreign exchange, was 4%, indicating underlying strength despite external headwinds.
Operating margin remained flat at 22.1% of net sales. This stability is notable considering a 350 basis point increase in gross margin to 51.4%, which was offset by a 200 basis point increase in SG&A expenses.
Net earnings increased 2% to $15.0 billion, slightly outpacing revenue growth. However, this growth was partially offset by a $1.3 billion non-cash impairment charge on a Gillette intangible asset and incremental restructuring charges.