“Pricing was a sequentially stronger contributor to top line growth in the third quarter and will continue to be a driver again in the fourth quarter as we get the full effect of increases taken over the past few months.”

In context

“d timing of those moves will be very specific to the category, the brand and sometimes to the individual SKU. This is not a one-size-fits-all approach. Also, just as we've done over the past year, we'll look to close a couple of price increases with new innovation that offers our consumers more value, continue to drive category growth and maintain our competitive superiority advantage. As we said before, we believe this is a temporary bottom line rough patch to grow through, not a reason to reduce investment in the business. We're sticking with the strategy that has been working well before and during the COVID crisis. Moving to key guidance metrics. We now expect organic sales growth in the range of 6% to 7% for the fiscal year, a two-point increase versus our prior guidance of 4% to 5%. Pricing was a sequentially stronger contributor to top line growth in the third quarter and will continue to be a driver again in the fourth quarter as we get the full effect of increases taken over the past few months. We are closely monitoring consumption trends for signs of changes. So far, elasticities have been in line or better than our expectations. Demand for our best-performing, premium-priced offerings remain strong as do our market share trends. On the bottom line, we're maintaining the core earnings per share growth range of 3% to 6%. But given cost challenges we're facing, we now expect to be at the low end of the range at 3%. Within this guidance, we expect an additional $0.04 per share of negative impact in the fourth quarter from higher costs and limited operations in Ukraine and Russia. The impact from commodities, freight and foreign exchange has increased significantly since the start of the fiscal year. Our initial guidance in July assumed $1.8 billion after tax or about $0.70 a share”