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P&G increases sales in all categories
Procter & Gamble recently announced its second-quarter fiscal 2022 results, with net sales of $21 billion, an increase of 6% from the previous quarter.
Excluding the impact of currency, acquisitions and divestitures, organic sales also increased 6%, the company said in a press release. Diluted net income per share was $1.66, up 13 % from the prior year's earnings per share and up 1 % from the prior year's basic earnings per share.
Cash flow from operations was $5.1 billion for the quarter. The adjusted free cash flow rate is 106%. Management said the company returned nearly $7 billion in cash to shareholders through the payment of $2 billion in dividends and about $5 billion in common stock repurchases.
In a statement, John Mueller, chairman and chief executive officer, said, "We have delivered strong revenue growth and sequential earnings growth, despite significant cost constraints. This helps keep us on track." Cash return and cash return to shareholders. Our focus continues to be on strategies for excellence, productivity, constructive disruption and continuous improvement in P&G's culture and organizational structure. These strategies have enabled us to build and maintain strong momentum. Still the right strategies for balanced growth and value creation.
The increase in organic sales was driven by a 3% increase in freight volume and a 3 percentage point price increase to help offset the significant increase in the cost of components and other inputs. This combination is independent of net sales growth. Organic sales in cosmetics are up 2% over last year. Organic personal care and skin care sales grew at a low rate, driven primarily by volume growth in the personal care segment driven by innovation and market and price growth, partially offset by negative product groups. Sales of organic hair care products increased by mid-single digits, primarily due to higher prices.
Organic Body Care segment organic sales grew 5% quarter-over-quarter, and Organic Shave Care sales grew at an average single-digit growth rate due to volume growth, higher prices and robust, geographically bundled products as a result of growth in developed markets. Organic Appliances sales grew at a mid-single-digit rate due to higher prices and a positive mix driven by growth in premium razors and groomers. This was partially offset by lower volumes compared to the reporting period, which benefited from the pandemic-related increase in consumption of home shavers and styling tools.
Organic health care sales grew 8% year over year, while organic oral care sales grew by mid-single digits, driven by a positive combination of higher billion-dollar rates for premium toothpastes and whitening products and innovation-driven price increases. Significant gains, up 20%, primarily due to growth in respiratory products due to more severe cough/cold/flu season compared to the prior year. All regions reported double-digit organic growth in quarterly personal health industry sales.