“Significant additional currency weakness, commodity cost increases, geopolitical disruptions, major supply chain disruptions, more store closures are not anticipated within the guidance ranges.”

In context

“s guidance equates to a range of $6.25 to $6.43 per share, $6.34 or up 7.5% at the center of the range. With a three-point headwind from foreign exchange, this outlook translates to 9% to 12% EPS growth on a constant currency basis. We expect adjusted free cash flow productivity of 90% for the year. This includes an increase in capital spending as we add capacity in several categories. We expect to pay more than $9 billion in dividends and to repurchase $5 billion to $6 billion in common stock, combined a plan to return $14 billion to $15 billion of cash to share owners this fiscal year. Top line, bottom line and cash guidance for fiscal ’24 all consistent with our long term algorithm. This outlook is based on current market growth estimates, commodity prices and foreign exchange rates. Significant additional currency weakness, commodity cost increases, geopolitical disruptions, major supply chain disruptions, more store closures are not anticipated within the guidance ranges. These guidance ranges also do not assume a further reduction in commodity and material costs versus current levels. If this should occur, it would generate greater flexibility to invest more in value-accretive innovation and marketing opportunities. With that, I’ll hand it back to Jon for his closing thoughts. Jon Moeller: We’re very pleased with the strong results P&G people have delivered in a very challenging operating cost and competitive environment over the last five years. Excellent execution of an integrated set of market constructive strategies delivered with a focus on balanced top and bottom line growth and value creation. We continue to believe that the best path forward to deliver sustainable, balanced growth is to double down on the strategy, starting with a commitment to de”