P&G Files Q1 FY25 10-Q

TL;DR

PG's Q1 FY25 10-Q is in. Check financials.

AI Summary

Procter & Gamble Co. (PG) filed its 10-Q for the period ending September 30, 2024. The filing covers the first fiscal quarter of 2025. Key financial details and business segments are presented, with the company's headquarters located in Cincinnati, OH.

Why It Matters

This filing provides investors with the latest financial performance data for Procter & Gamble, a major consumer goods company, impacting its stock valuation and market perception.

Risk Assessment

Risk Level: low — This is a routine quarterly filing for a large, established company with no immediate red flags apparent in the provided metadata.

Key Numbers

• FY2425 Q1 — Fiscal Quarter (Reporting period is the first quarter of fiscal year 2025.)
• 0630 — Fiscal Year End (The company's fiscal year concludes on June 30th.)

Key Players & Entities

• PROCTER & GAMBLE Co (company) — Filer
• CINCINNATI (location) — Business Address City
• OH (location) — Business Address State
• 20240930 (date) — Reporting Period End Date
• 20241018 (date) — Filing Date

FAQ

Filing Documents

• pg-20240930.htm (10-Q) — 963KB
• fy2425q1jas10-qexhibit101.htm (EX-10.1) — 67KB
• fy2425q1jas10-qexhibit10x2.htm (EX-10.2) — 28KB
• fy2425q1jas10-qexhibit10x3.htm (EX-10.3) — 47KB
• fy2425q1jas10-qexhibit10x4.htm (EX-10.4) — 83KB
• fy2425q1jas10-qexhibit311.htm (EX-31.1) — 10KB
• fy2425q1jas10-qexhibit312.htm (EX-31.2) — 10KB
• fy2425q1jas10-qexhibit321.htm (EX-32.1) — 5KB
• fy2425q1jas10-qexhibit322.htm (EX-32.2) — 5KB
• image_0.jpg (GRAPHIC) — 15KB
• image_0a.jpg (GRAPHIC) — 72KB
• image_0c.jpg (GRAPHIC) — 161KB
• pg-20240930_g1.jpg (GRAPHIC) — 6KB
• 0000080424-24-000113.txt ( ) — 5926KB
• pg-20240930.xsd (EX-101.SCH) — 35KB
• pg-20240930_cal.xml (EX-101.CAL) — 56KB
• pg-20240930_def.xml (EX-101.DEF) — 173KB
• pg-20240930_lab.xml (EX-101.LAB) — 484KB
• pg-20240930_pre.xml (EX-101.PRE) — 337KB
• pg-20240930_htm.xml (XML) — 659KB

Item 1. Financial Statements

PART I Item 1. Financial Statements 1 Consolidated Statements of Earnings 1 Consolidated Statements of Comprehensive Income 1 Consolidated Balance Sheets 2 Consolidated Statements of Shareholders' Equity 3 Consolidated Statements of Cash Flows 4

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 5 Note 1: Basis of Presentation 5 Note 2: New Accounting Pronouncements and Policies 5 Note 3: Segment Information 5 Note 4: Goodwill and Intangible Assets 6 Note 5: Earnings Per Share 8 Note 6: Share-Based Compensation and Postretirement Benefits 8 Note 7: Risk Management Activities and Fair Value Measurements 9 Note 8: Accumulated Other Comprehensive Income/(Loss) 10 Note 9: Commitments and Contingencies 10 Note 10: Supplier Finance Programs 11 Note 11: Restructuring Program 11

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 12

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 22

Controls and Procedures

Item 4. Controls and Procedures 22

Item 1. Legal Proceedings

PART II Item 1. Legal Proceedings 23

Risk Factors

Item 1A. Risk Factors 24

Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities

Item 2. Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities 24

Other Information

Item 5. Other Information 24

Exhibits

Item 6. Exhibits 25 Signature 25 The Procter & Gamble Company 1

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements THE PROCTER & GAMBLE COMPANY AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS Three Months Ended September 30 Amounts in millions except per share amounts 2024 2023 NET SALES $ 21,737 $ 21,871 Cost of products sold 10,421 10,501 Selling, general and administrative expense 5,519 5,604 OPERATING INCOME 5,797 5,767 Interest expense ( 238 ) ( 225 ) Interest income 135 128 Other non-operating income/(expense), net ( 554 ) 132 EARNINGS BEFORE INCOME TAXES 5,140 5,802 Income taxes 1,152 1,246 NET EARNINGS 3,987 4,556 Less: Net earnings attributable to noncontrolling interests 28 35 NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE $ 3,959 $ 4,521 NET EARNINGS PER COMMON SHARE (1) Basic $ 1.65 $ 1.89 Diluted $ 1.61 $ 1.83 (1) Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME Three Months Ended September 30 Amounts in millions 2024 2023 NET EARNINGS $ 3,987 $ 4,556 OTHER COMPREHENSIVE INCOME/(LOSS), NET OF TAX Foreign currency translation 1,026 ( 409 ) Unrealized gains/(losses) on investment securities 2 ( 1 ) Unrealized gains/(losses) on defined benefit postretirement plans ( 21 ) 45 TOTAL OTHER COMPREHENSIVE INCOME/(LOSS), NET OF TAX 1,007 ( 366 ) TOTAL COMPREHENSIVE INCOME 4,994 4,190 Less: Comprehensive income attributable to noncontrolling interests 28 33 TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE $ 4,965 $ 4,157 See accompanying Notes to Consolidated Financial Statements. 2 The Procter & Gamble Company THE PROCTER & GAMBLE COMPANY AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS Amounts in millions September 30, 2024 June 30, 2024 Assets CURRENT ASSETS Cash and cash equivalents $ 12,156 $ 9,482 Accounts receivable 6,314 6,118 INVENTORIES Materials and supplies 1,820 1,617 Work in process 921 929 Finished goods 4,546 4,470 Total inventor

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 1. Basis of Presentation The accompanying unaudited Consolidated Financial Statements of The Procter & Gamble Company and subsidiaries ("the Company," "Procter & Gamble," "P&G," "we" or "our") should be read in conjunction with the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2024. We have prepared these statements in conformity with accounting principles generally accepted in the United States (U.S. GAAP) pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (SEC) for interim financial information. Note that certain columns and rows may not add due to rounding. In the opinion of management, the accompanying Consolidated Financial Statements contain all normal recurring adjustments necessary to present fairly the financial position, results of operations and cash flows for the interim periods reported. However, the results of operations included in such financial statements may not necessarily be indicative of annual results. 2. New Accounting Pronouncements and Policies In November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2023-07, "Segment Reporting: Improvements to Reportable Segment Disclosures." This guidance requires disclosure of incremental segment information on an annual and interim basis. This amendment is effective for our fiscal year ending June 30, 2025 and our interim periods within the fiscal year ending June 30, 2026. The guidance will require additional disclosures in the Segment Information footnote, but will not have a material impact on our Consolidated Financial Statements. In December 2023, the FASB issued ASU No. 2023-09, "Income Taxes: Improvements to Income Tax Disclosures." This guidance requires consistent categories and greater disaggregation of information in the rate reconciliation and disclosures of income taxes paid by jurisdiction. This amendment is effective for our fis