The Procter & Gamble Company (PG) CEO Jon Moeller on Q3 2022 Results - Earnings Call Transcript

The Procter & Gamble Company (NYSE:PG) Q3 2022 Earnings Conference Call April 20, 2022 8:30 AM ET

Company Participants

Andre Schulten - Chief Financial Officer

Jon Moeller - President & Chief Executive Officer

Conference Call Participants

Lauren Lieberman - Barclays

Bryan Spillane - Bank of America

Dara Mohsenian - Morgan Stanley

Rob Ottenstein - Evercore

Kevin Grundy - Jefferies

Olivia Tong - Raymond James

Wendy Nicholson - Citi

Nik Modi - RBC Capital Markets

Chris Carey - Wells Fargo Securities

Kaumil Gajrawala - Credit Suisse

Mark Astrachan - Stifel

Peter Grom - UBS

Andrea Teixeira - JPMorgan

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, President and Chief Executive Officer; and John Chevalier, Senior Vice President, Investor Relations. We will keep prepared remarks brief and then turn straight to your questions.

This was another strong quarter, strong top line growth across categories and regions, sequential earnings growth progress in the face of significant and still increasing cost headwinds.

Starting with a few highlights on the March quarter. Organic sales grew 10%. Volume contributed 3 points of sales growth. Pricing added 5 points as additional price increases began to reach the market. Mix added 2 points to sales growth for the quarter. These strong company results are grounded in broad-based category and geographic strength.

Each of the 10 product categories grew organic sales in the quarter. Personal Health Care grew more than 30%. Fabric Care was up low-teens. Baby Care and Feminine Care grew double digits. Oral Care and Grooming up high singles. Home Care and Family Care up mid-single digits. Hair Care and Skin and Personal Care each grew low singles.