“We expect adjusted free cash flow productivity of 90% for the year.”

In context

“in quarter one and will also impact the balance of the fiscal year. On the bottom line, our core EPS guidance range for fiscal '25 remains at plus 5% to 7% versus fiscal '24 of a core EPS base of $6.59. This guidance equates to a range of $6.91 to $7.05 per share. Our outlook for commodity costs and foreign exchange have each improved modestly since our initial guidance for the year. We are now guiding for a commodity cost headwind of approximately $200 million after tax, which equates to a headwind of $0.08 per share for fiscal '25. We are forecasting foreign exchange to be in line with prior year. We continue to expect lower non-operating income benefits this fiscal year and a somewhat higher tax rate versus prior year. Combined, these are additional $0.10 to $0.12 headwind to core EPS. We expect adjusted free cash flow productivity of 90% for the year. We have plans to pay around $10 billion in dividends and to repurchase $6 billion to $7 billion in common stock, combined, returning $16 billion to $7 billion of cash to shareowners this fiscal year. This outlook is based on current market growth rate estimates, commodity prices and foreign exchange rates, significant additional currency weakness, commodity cost increases, geopolitical disruptions, major supply chain disruptions or store closures are not anticipated within these guidance ranges. To conclude, the earnings and cash results in the quarter keep us on track with our fiscal year guidance ranges, and we are doubling down on all levers to accelerate growth in the coming quarters. We continue to believe the best path forward is excellent execution of our market constructive strate”