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CLAIM #48885 · Procter & Gamble Company (PG) · 2023Q1 earnings call · Oct 19, 2022 · due Jun 30, 2023

We continue to believe that the majority of that growth will be price driven with a negative volume component, as you would expect given the inflationary pressure.

Andre Schulten · CFO

PENDING
graded after results covering Jun 30, 2023 are reported

In context

ce was underpinned on a 3% to 4% category growth rate. I think investors were a little bit surprised by the degree of slowdown at that point, just given the strength of the business performance in recent years. First quarter, I think, was better than the market expected, certainly from a demand elasticity perspective. Maybe just comment now, again, building on Nik's question, is 3% to 4% still what's underpinning your outlook and maybe you can share for key regions, US enterprise markets, et cetera, what you observed for category growth rates in the first quarter as we think about the balance of the year. So, thanks for that. Andre Schulten: Yes. Kevin, we expect a slowdown from the growth rate we've seen over the past years, which was 5% to a more modest 3% to 4%. That is still the case. We continue to believe that the majority of that growth will be price driven with a negative volume component, as you would expect given the inflationary pressure. We don't have more detail by region at this point in time, and it's really not -- it's really not a constructive forecast exercise to try to bring this down into a lower level of detail. So 3% to 4%, still underlying our forecast. We want to grow slightly ahead of that, which is reflected in our guidance range. Operator: The next question comes from the line of Christopher Carey with Wells Fargo. Christopher Carey: Hi, good morning. So, just two connected questions on focus and enterprise markets. First, just on the US, you noted that growth was 5%, which is several points ahead of what we can see in the US standard [ph] data. Are there any timing differences with inventory or non-track performance that you would highlight there? And then just tacked on the enterprise market in general. C

Verify independently

SEC filings for PG · Claim quote is verbatim from the 2023Q1 earnings call.