CINCINNATI--(BUSINESS WIRE)--The Procter & Gamble Company (NYSE:PG) reported first quarter fiscal year 2018 net sales of $16.7 billion, an increase of one percent versus the prior year. Organic sales also increased one percent. Diluted net earnings per share were $1.06, an increase of 10% versus the prior year while core earnings per share increased six percent to $1.09. Currency-neutral core EPS also increased six percent versus the prior year.
Operating cash flow was $3.6 billion for the quarter. Free cash flow productivity was 87%. The Company returned $4.3 billion of cash to shareholders via $1.8 billion of dividend payments and $2.5 billion of common stock repurchase.
“First quarter sales and earnings results were in line with our going-in expectations and keep us on track to deliver our targets for the fiscal year,” said David Taylor, Chairman, President and Chief Executive Officer. “We delivered organic sales growth in a decelerating global market and against a relatively strong base period. Market share trends continue to improve, with more of our top brands and countries holding or growing share. Looking forward, we will drive innovation, productivity and organization transformation to accelerate top-line growth while further expanding our industry-leading profit margins.”
July - September Quarter Discussion
Net sales in the first quarter of fiscal year 2018 were $16.7 billion, an increase of one percent versus the prior year. Organic sales also increased one percent driven by a one percent increase in shipment volume. Pricing, mix and foreign exchange had no net impact on sales for the quarter.
