Q2 2025 Procter & Gamble Co Earnings Call Transcript
Key Points
- Procter & Gamble Co (PG) reported a 3% growth in organic sales for the quarter, with volume contributing 2 points and mix contributing 1 point.
- The company achieved broad-based growth across 10 product categories, with family care experiencing double-digit growth.
- North America and Europe focused markets both reported 4% organic sales growth, driven by volume increases.
- Procter & Gamble Co (PG) returned over $4.9 billion of cash to shareholders this quarter, including $2.4 billion in dividends and $2.5 billion in share repurchases.
- The company has delivered 26 consecutive quarters of 2% or better organic sales growth, averaging 5.5% over the past 6.5 years.
- Greater China organic sales declined by 3%, although this was an improvement from a 15% decline in the previous quarter.
- Core gross margin was down 30 basis points, and core operating margin declined 80 basis points.
- The company faces a $300 million after-tax headwind from foreign exchange rates, equating to a $0.12 per share impact for fiscal '25.
- Procter & Gamble Co (PG) anticipates a commodity cost headwind of approximately $200 million after tax for fiscal '25.
- The Asia, Middle East, and Africa region experienced a low single-digit decline in organic sales.
Good morning and welcome to Procter & Gamble's Quarter end conference call. Today's event is being recorded for replay. This discussion will include a number of forward-looking statements.
If you will refer to P&G's most recent 10-K, 10-Q and 8-K reports, you will see a discussion of factors that could cause the company's actual results to differ materially from these projections. As required by Regulation G, Procter & Gamble needs to make you aware that during the discussion, the company will make a number of references to non-GAAP and other financial measures.
Procter & Gamble believes these measures provide investors with useful perspective on underlying business trends and has posted on its Investor Relations website, www.pginvestor.com, a full reconciliation of non-GAAP financial measures.
Now I will turn the call over to P&G's Chief Financial Officer, Andre.
Good morning.
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