CLAIM #49022 · Procter & Gamble Company (PG) · 2024Q2 earnings call · Jan 23, 2024 · due Jun 30, 2024
“While we can't talk specifics of future pricing in any market, more stable foreign exchange and commodity costs will ideally reduce the need for additional large price increases.”
Jon Moeller · CEO
In context
“in share repurchase. In summary, against what continues to be a challenging and volatile operating environment, strong overall progress in the first half of the year keeping us on track for our fiscal year guidance ranges. Now I'll pass it over to Jon for his perspective. Jon Moeller: Thanks Andre, and good morning, everyone. I'll start by underscoring a few points Andre made in his discussion of the topline trends. Overall, continued strong top line progress 22nd consecutive quarter of 4% or better organic sales growth, volume acceleration in key markets, increases in aggregate market shares. This despite several notable headwinds, which should be temporary. Tensions in the Middle East will hopefully ease. Enterprise market volume impacts following price increases are usually temporary. While we can't talk specifics of future pricing in any market, more stable foreign exchange and commodity costs will ideally reduce the need for additional large price increases. I spent six days in China with the team two weeks ago. I met with consumers in their homes, with retail CEOs with our team, and with several government officials. In my view, the long-term China opportunity remains intact. The near term is likely to present some challenges. We'll see what happens with the global cough cold season as a soft start to the season either reverses or eventually annualizes. No guarantee of immediate bounce back in any of these, but reason to believe they will improve over time. In addition to continued aggregate topline progress, a very strong bottom line, mid-teens core earnings per share growth two quarters in a row, while increasing investments in innovation, brand building and market growth. Our team continues to execute our strategy with excellence, enablin”
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SEC filings for PG ↗ · Claim quote is verbatim from the 2024Q2 earnings call.