CLAIM #49145 · Procter & Gamble Company (PG) · 2025Q1 earnings call · Oct 18, 2024 · due Mar 31, 2025
“I would expect sequential improvement simply because of the mass of annualization.”
Andre Schulten · CFO
In context
“about the pace of improvement in China in the sense of less declines, but still negative growth in the balance of the year? And how does the recent stimulus measure in China inform kind of your gradual improvement in the country? And then if I can ask one more on the total company level, I think it would be helpful to give a little bit of context how you see the progression in terms of organic sales growth from approximately 2% in Q1. Should we expect a sequential improvement in Q2 or is it really the improvement to get to your midpoint of your guidance more skewed to the second half? Thank you. Andre Schulten: Yeah. Thanks, Filippo. Good morning. Predicting recovery pace in China is a futile task, I think. So we won't attempt that. That's why we have the range that we have communicated. I would expect sequential improvement simply because of the mass of annualization. So we expect any deceleration to not offset the base effect. But that's where it ends. Again, as we've communicated, if China is simply annualizing, that would point to the mid end -- midpoint of the guidance. If it does anything better than that, that would help us towards the upper-end. If it continues to decelerate throughout the year, that would point us to the lower-end of the guidance range. I won't make any prediction what the pace or the direction by quarter is. On the progressions per quarter, look, we don't give you quarterly forecast for a reason. We need some level of flexibility to manage across quarters. But I think logically, we have to expect some level of progression going into quarter two, but it will be the overarching effect that I still want to call-out is the headwin”
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SEC filings for PG ↗ · Claim quote is verbatim from the 2025Q1 earnings call.