The Procter & Gamble Company (PG) Q1 2023 Earnings Call Transcript

The Procter & Gamble Company (NYSE:PG) Q1 2023 Earnings Conference Call October 19, 2022 8:30 AM ET

Company Participants

Andre Schulten - Chief Financial Officer

Jon Moeller - Chairman of the Board, President & Chief Executive Officer

Conference Call Participants

Steve Powers - Deutsche Bank

Lauren Lieberman - Barclays

Dara Mohsenian - Morgan Stanley

Bryan Spillane - Bank of America

Kaumil Gajrawala - Credit Suisse

Rob Ottenstein - Evercore

Nik Modi - RBC Capital Markets

Kevin Grundy - Jefferies

Christopher Carey - Wells Fargo

Olivia Tong - Raymond James

Bill Chappell - Truist Securities

Mark Astrachan - Stifel

Andrea Teixeira - JPMorgan

Jason English - Goldman Sachs

Jonathan Feeney - Consumer Edge

Operator

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 Schulten.

Andre Schulten

Good morning, everyone. Joining me on the call today are Jon Moeller, Chairman of the Board, President and Chief Executive Officer; and John Chevalier, Senior Vice President, Investor Relations. We're going to keep our prepared remarks brief and then turn straight to your questions.

Execution of our integrated strategies continued to yield good results in the July to September quarter and provides a solid start to the fiscal year. We're growing organic sales in all 10 categories, holding global aggregate market share, accelerating productivity savings, and improving supply sufficiency.

Together, this progress enables us to maintain guidance ranges for organic sales growth, core EPS growth, free cash flow productivity and cash return to shareowners. Despite continued high commodity and transportation costs, inflation in the upstream supply chain and in our own operations, accelerating headwinds from foreign exchange, geopolitical issues, COVID disruptions impacting consumer confidence and historically high inflation impacting consumer budgets.