CLAIM #49004 · Procter & Gamble Company (PG) · 2024Q1 earnings call · Oct 18, 2023 · due Jun 30, 2024
“And we then sequentially expect volumes to pick up and offset part of that but do expect a lower overall market growth rate for the balance of the year.”
Andre Schulten · CFO
In context
“arters and as always, P&G is intending to grow ahead of the market. So really, our expectation for the year is to be slightly ahead of the market in terms of volume and slightly ahead in terms of price. We continue to believe that we can price with strong innovation. And we have gained even more confidence over the past two years that our strategy of pricing with innovation to drive superiority and create value for the consumer is working. And so we fully expect to return to that pattern. And again, pricing has been a core component of our growth for 18 out of the last 19 years, so we expect that to continue. Specifically, I think the pricing will start to lap in quarter two. So you will see probably the price contribution drop to -- by 3 to 4 points in quarter two, and that was expected. And we then sequentially expect volumes to pick up and offset part of that but do expect a lower overall market growth rate for the balance of the year. To your second part of the question, enterprise markets versus focus markets, I think the only differential would be foreign exchange. And we'll continue to price for foreign exchange. We've done that very successfully across the world. Turkey is a major example where we've been able to price for the significant devaluation of the Turkish lira, but we are able to grow share, grow sales, grow profit. We'll continue that model. Outside of that, we'll continue to do and drive the same business model we're driving in focus markets, innovate, drive superiority, price, grow markets and thereby grow sales, profit and share. Operator: Next question comes from Dara Mohsenian of Morgan Stanley. Please go ahead. Dara Mohsenian: Hey, good morning, guys. So just to follow up on that. Can you character”
Verify independently
SEC filings for PG ↗ · Claim quote is verbatim from the 2024Q1 earnings call.