"We met or exceeded each of our going-in objectives for the Fiscal Year 2017 in a challenging macro and competitive environment. We made significant progress on our key priorities ... now is the time to accelerate our efforts to execute and deliver on the plans we've put into action."
David Taylor, P&G Chairman, President & Chief Executive Officer
Our fiscal 2017 results demonstrate that the actions we have taken and the plan we have in place are working. In fact, we met or exceeded each of our fiscal 2017 objectives. Delivery of our financial goals has also translated into share price gains for our shareholders.
Since the CEO transition on November 1, 2015, our team has delivered total shareholder return (“TSR”) of 28% — well above the vast majority of peers throughout that same time period. P&G also outperformed the S&P 500, which delivered a TSR of 21% in that same timeframe. Now is the time to build on our momentum, and prevent anything from derailing the work that is delivering improvement.
*Market data as of September 6, 2017. P&G Peers include Beiersdorf, Church & Dwight, Clorox, Colgate-Palmolive, Edgewell Personal Care, Henkel, Kimberly-Clark, L’Oréal, Reckitt Benckiser, Unilever.
The TSR for “Peltz Serving on Board” is a weighted average based on the market capitalization of Madison Square Garden, Mondelez, Sysco and Wendy’s. “S&P Consumer Staples Index” and “S&P 500 Index” represent the TSR of indices maintained by Standard & Poor’s, that are weighted based on the market capitalization of the index constituents. The TSR for “P&G Peers” is a simple average, which follows the same methodology utilized by Trian in its measurement of the same peer constituency in its presentation filed with the SEC on July 17, 2017.
Our robust fiscal 2017 results demonstrate that the actions we have taken and the strategic plan we have in place are working.
$22 billion of value was returned to shareholders through the combination of $7.2 billion of dividend payments, $9.4 billion of share exchanges in the Beauty Brands transaction and $5.2 billion of direct share repurchases.
Organic sales growth of two percent for the year
Net sales were $65.1 billion, unchanged versus the prior year, including a negative two percentage point impact from foreign exchange.
$12.8 billion of operating cash flow was generated, with adjusted free cash flow productivity of 94%.
To learn more about how we’re continuing to deliver balanced growth, value creation and total shareholder return view these downloads below:Our Full fourth quarter and fiscal year 2017 results reportOur 2017 Annual Report