CLAIM #49067 · Procter & Gamble Company (PG) · 2024Q3 earnings call · Apr 19, 2024 · due Dec 31, 2024
“It probably takes a few more quarters before we turn back to growth, but we see the trend line improving.”
Andre Schulten · CFO
In context
“nts or our organic sales in China are improving quarter-over-quarter. If we look at quarter two, our organic sales excluding SK-II in China were down 10%. In the most recent quarter, they were down 3%. So we're making progress. The market is not yet recovering, but we see the trajectory going in the right direction. We have pockets of strength. Baby Care, for example, in China has grown 11% in the current quarter, our appliance business growing 14%. We are making strong investments in our hair care business with a more streamlined portfolio, and we feel good about our ability to continue to drive market growth, be market constructive in China, and see the upside as we've articulated before on a longer term on participating in the Chinese market. Will it be a straight line to recovery? No. It probably takes a few more quarters before we turn back to growth, but we see the trend line improving. Operator: The next question comes from Steve Powers with Deutsche Bank. Steve Powers: Andre, I think you mentioned that nearly all of the commodity benefits that you expected this year you've essentially fully benefited from through the third quarter. And we've seen year-to-date in the calendar year, you're obviously in oil, right, with some plant related costs. So I guess just some thoughts on that in terms of how that impacts your early planning for fiscal '25? And maybe sort of related to that, just your confidence and your view, visibility into the productivity pipeline. And can we expect and do you have confidence you can run at an accelerated cadence of productivity over the next 12 to 18 months as well based on that pipeline? Thank you. Andre Schulten: Good morning, Keith. Yes. So”
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SEC filings for PG ↗ · Claim quote is verbatim from the 2024Q3 earnings call.