The Procter & Gamble Company (PG) 2025 dbAccess Global Consumer Conference summary

Financial performance and market trends

• Achieved six consecutive years of 4%+ organic sales growth and eight years of 2%+ Core EPS growth, with $13B+ returned to shareholders in the first three quarters of FY25.

• Organic sales growth for Q1–Q3 2025 was 2%, with nine of ten categories growing or holding share.

• Core EPS for FY 2025 is estimated to grow 2–4%, with currency-neutral Core EPS expected to rise 3–5%.

• Adjusted free cash flow productivity averaged 103% over the past decade, with $16.2B in adjusted free cash flow in 2024.

• Dividend increased by 5% in April, marking the 69th consecutive annual increase, with $146B returned to shareholders over the past decade.

Strategic initiatives and restructuring

• Announced a two-year non-core restructuring program for FY26, including select brand divestitures, market exits, and up to 7,000 non-manufacturing role reductions (~15% of workforce), with costs estimated at $1B-$1.6B before tax.

• Portfolio optimization includes recent market exits (Argentina), restructurings (Nigeria), divestitures (Vidal Sassoon in China), and new brand launches (Native, Zevo, Spruce).

• Focus on production efficiency, faster innovation, and supply chain reliability as part of restructuring.

• Ongoing productivity initiatives deliver $1.8B in annual savings.

• Plan to discontinue certain brands and product forms, creating a 30-50 bps headwind to organic sales growth over the next two years.

Innovation, productivity, and growth strategy

• Integrated growth strategy centers on portfolio focus, superiority (product, package, communication, retail execution, value), productivity, and constructive disruption.

• Investments in AI, programmatic media buying, and proprietary data platforms have increased media reach and advertising efficiency.

• Supply Chain 3.0 targets 98% on-shelf availability and up to $1.5B in annual productivity savings.

• New business launches include Native hair care and Zevo insect control, expanding into adjacent categories.

• Environmental sustainability and digital acumen are key focus areas for long-term value creation.