CLAIM #49082 · Procter & Gamble Company (PG) · 2024Q3 earnings call · Apr 19, 2024 · due Jun 30, 2024
“And unless we see any major inventory reduction, I would expect us to continue to trend in that same direction.”
Andre Schulten · CFO
In context
“I wanted to go back to the U.S. market. The 5% consumption level was pretty strong and we see in track channel data. Are you expecting from a reported standpoint to get closer to that level in Q4 as you don't have the negative impact from the inventory? Or what are the puts and takes in Q4? And then just specifically on laundry in the U.S., your largest category? There was some recalls in Tide PODS recently, so maybe you could talk about any potential impact from that in Q4. And then longer term, you announced the innovation on Tide EVO, so maybe some color on the rollout of that brand and the product and your expectations? Andre Schulten: Yes. Hi, Filippo. You're right. We hope U.S. market growth continues in the high 4s, low 5s, and I think the trend line is pointing in that direction. And unless we see any major inventory reduction, I would expect us to continue to trend in that same direction. We are driving market growth in most of our categories in the U.S., and that should mathematically then result in stable to increasing shares both on the volume and value side. And that's certainly the objective the team has on all the U.S. businesses. The laundry recall, it was a very limited recall on a packaging defect on 1 SKU on Tight PODS. Out of an abundance of caution, the team decided to recall the product. It's no impact or very limited impact actually on the quarter or the fiscal year. And again, that product itself is safe, so no issue with the product. It was a small packaging defect, but in any case, the team decided to go ahead and recall. We're very excited about the EVO innovation. The fiber spinning innovation has been one of our core developments, so seeing it in market”
Verify independently
SEC filings for PG ↗ · Claim quote is verbatim from the 2024Q3 earnings call.