The Procter & Gamble Company (NYSE:PG) Q1 2025 Earnings Call Transcript October 18, 2024 8:30 AM ET
Company Participants
Andre Schulten - CFO
Conference Call Participants
Steve Powers - Deutsche Bank
Lauren Lieberman - Barclays
Dara Mohsenian - Morgan Stanley
Bryan Spillane - Bank of America
Chris Carey - Wells Fargo Securities
Filippo Falorni - Citi
Robert Ottenstein - Evercore ISI
Kevin Grundy - BNP Paribas
Peter Grom - UBS
Andrea Teixeira - JPMorgan
Kaumil Gajrawala - Jefferies
Mark Astrachan - Stifel
Nik Modi - RBC Capital Markets
Olivia Tong - Raymond James
Korinne Wolfmeyer - Piper Sandler
Rob Moskow - TD Securities
Linda Bolton Weiser - D.A. Davidson
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 is John Chevalier, Senior Vice President, Investor Relations. Execution of our integrated strategy delivered another quarter of solid earnings and cash results. These results enable us to maintain our guidance ranges for fiscal year '25. Organic sales grew 2% comparing against a strong base period of 7% growth. Volume contributed 1 point to organic sales growth, pricing added 1 point and mix was roughly in line with prior year. Eight of 10 product categories grew or held organic sales for the quarter. Family care, home care and personal healthcare each grew mid-single-digits. Hair care, oral care, feminine care, fabric care and grooming grew low singles. Baby care and skin and personal care were down mid-singles.
Organic sales in focus markets grew 2% and enterprise markets were up 1%. Organic sales in North America grew 4%, driven by 4 points of volume growth. Over the last five quarters, North America has grown organic sales 7%, 5%, 3%, 4% and now again 4% on volume growth between 3% and 4% each of those quarters. The region delivered broad-based market share growth this quarter with eight of 10 categories holding or growing volume share and nine of 10 categories holding or growing value share. Europe focus markets organic sales were up 3%. This compares against 15% organic sales growth in the base period and includes a 2 point headwind from lower inventory versus the base period. Volume was up 4 points despite the base period inventory impacts. Over the last five quarters, Europe focus markets have grown organic sales an average of nearly 7% on volume growth of 3%.