“We continue to expect organic revenue growth of 5% to 6%, but now expect comparable currency-neutral earnings per share growth of approximately 8%, both of which reflect delivery in line with our long-term growth algorithm.”

In context

“ness performance and lower tax payments, partially offset by cycling working capital benefits in the prior year. During the quarter, we made our final $1.2 billion transition tax payment related to the 2017 Tax Cuts and Jobs Act. Our balance sheet remains strong with our net debt leverage of two times EBITDA, which is at the low end of our targeted range of two to two and a half times. We're confident in our long-term free cash flow generation and have ample balance sheet capacity to pursue which prioritizes continuing to invest in our business and returning capital to our shareholders. Enabled by our all-weather strategy, we're updating our 2025 guidance, which takes into consideration our actions to drive growth in a dynamic context and what we know today about our external environment. We continue to expect organic revenue growth of 5% to 6%, but now expect comparable currency-neutral earnings per share growth of approximately 8%, both of which reflect delivery in line with our long-term growth algorithm. Based on current rates and our hedge positions, we now anticipate an approximate one to two-point currency headwind to comparable net revenues and an approximate five-point currency headwind to comparable earnings per share for full year 2025. While we recognize there's recently been some favorable currency movements, we hedge much of our developed market and some of our developing market exposure, and we'll take time to see the full benefits. We will continue to utilize the disciplined hedging strategy that provides greater certainty for decision-making. Our underlying effective tax rate for 2025 is still expected to be 20.8%, which is more than a two-point increase versus the prior year. All in, based on what we know today, we now expect 2025 comparable earnings per share growth of appr”