- Execs with Procter & Gamble (PG +2.7%) highlighted the consistent demand the multinational saw across global markets and notes late-quarter strength sets up FQ3 for solid organic sales growth.
- An important note is that profits are growing at a faster rate than sales on a constant currency basis in developing markets. Russia, China, and Brazil should see even more margin accretion as innovation and local manufacturing contributes.
- The company expects to make share repurchases of between $4B and $5B this year.
- Good news on the diaper front: P&G's market share for diapers rose 150 bps over the last year in the U.S.
- Earnings call transcript
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