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Analyst
Bryan Spillane
Period: Reporting periods mapped to calendar 2024 Q3 – 2025 Q2 (4 quarters).
- Questions
- 17on tracked calls
- Challenge rate
- 6%1 of 17 questions
- Companies
- 8questioned at least once
- Reporting periods
- 4with questions
These figures cover the whole profile: every tracked question, all reporting periods.
How to read these numbers
Challenge rate is the share of questions that pushed back, pressed for specifics or questioned management’s assumptions. It describes how questions were asked on the calls tracked here; it does not measure whether any view turned out to be right.
Rounding. Rates are rounded to whole percentages, so a small share can show as 0% even when some questions were challenging. The count beside each rate is exact; “none of N questions” means no question was challenging.
No questions recorded. “—” means there is nothing to calculate: no questions were recorded for that period on the calls tracked here. It does not mean there was no activity.
Fewer than 3 questions. A company-level rate is withheld when fewer than 3 questions were recorded for that company; the questions are still counted everywhere else.
Small samples. Profiles with fewer than 10 questions are marked Limited sample.
Reporting periods. Questions are grouped by the calendar quarter each company’s fiscal reporting period maps to, not by the date of the call. Periods without a calendar mapping are listed separately under their fiscal label.
Questions asked
Grouped by company, most questions first. Open a company to read its questions, newest reporting period first.
Showing 17 of 17 questions from 8 companies
ELEstée Lauder Companies (The)3 questions · 3 reporting periods · 0 of 3 challenging
Calendar 2025 Q1
how you're thinking about the choices that are involved in that and really safeguarding at the end of the day that we've got a model that will grow revenue
Show response
Stéphane outlined clear delineation: brands own strategy/innovation, regions own P&L from July 1. PRGP freeing resources for consumer-facing investment with highest ROI focus. Akhil reiterated hierarchy: growth, margin, cash.
Calendar 2024 Q4
how are you looking at the portfolio, and prioritizing where the investments go, and maybe there are certain brands, or categories that you'll run more for cash
Show response
Stéphane discussed portfolio review process but did not name specific brands being deprioritized. Committed to driving maximum value for each brand and region.
Calendar 2024 Q3
just the qualities, the skill sets you were looking for? And I guess how it informs like what you think needs to be different
Show response
Fabrizio outlined need for global market understanding, brand building, speed and agility. Expressed confidence in internal succession for driving organizational change.
PGThe Procter & Gamble Company3 questions · 3 reporting periods · 0 of 3 challenging
Calendar 2025 Q1
how we should begin thinking about approaching modeling forecasting for 2026. And so maybe can you give us a little
Show response
Andre declined FY26 guide, quoted $1-1.5B tariff impact, flagged productivity/innovation/pricing as near-term levers.
Calendar 2024 Q4
the 3% in the quarter, just how did Chinese New Year's impact that? So I guess, is that kind of reflective
Show response
Andre clarified no phasing distortion. Jon detailed distributor incentive changes and closer end-to-end management.
Calendar 2024 Q3
My question is just around the gross margins and the cost of goods sold inflation.
Show response
Andre credited productivity (170 basis points) and flagged a 6-9 month lag before easing commodity inflation flows through.
CLColgate-Palmolive2 questions · 2 reporting periods · 0 of 2 challenging
Calendar 2025 Q1
the drag from exiting private label actually will become more pronounced after Q1
Show response
Sutula confirmed 40bps Q1 drag, slightly more per quarter going forward until exit by Q3. Wallace noted ex-private label is the better lens with Q1 up 5% organic for Hill's.
Calendar 2024 Q4
where does that stand relative to kind of where category growth is as we're exiting 4Q
Show response
Wallace confirmed CL expects to outpace 2-4% category growth with 3-5% organic. Sutula detailed $2B US supply chain investment, 40%+ increase in US facilities, and flexibility for tariff scenarios.
KOThe Coca-Cola Company2 questions · 2 reporting periods · 0 of 2 challenging
Calendar 2025 Q1
can we talk a little bit about Mexico? And the quarter was, I think was a little bit softer
Show response
James attributed Mexico softness to cycling, Easter shift, geopolitical tension, and Hispanic consumer pullback in border regions. Launching Hecho en Mexico campaign.
Calendar 2024 Q4
how should we kind of think about it from a phasing perspective? Does the -- I guess this is the pricing from some of the emerging markets
Show response
John addressed phasing with Q2 as most challenging comp. James noted industry grows at 4-5% long-term and KO expects to gain share.
PEPPepsiCo2 questions · 2 reporting periods · 0 of 2 challenging
Calendar 2025 Q1
are we at a point now where international can really contribute more if Frito's going to naturally slow to a more modest growth over time
Show response
Ramon affirmed international as high-growth and now accretive, but pushed back on the premise that US cannot grow faster, pointing to away-from-home and new operating model opportunities.
Calendar 2024 Q4
how much of it is just simply price got ahead of the consumers' wallet, how much of this is now a change in preference
Show response
Ramon clearly ranked value as #1 driver, health awareness as #2, and mini-meals as a complementary trend, with portion control as the strategic bridge across all three.
STZConstellation Brands2 questions · 2 reporting periods · 1 of 2 challenging
Calendar 2025 Q1
is the $200 million in savings that we talked about yesterday, is most of that just a -- is most of that related to the divestiture
Show response
Garth split the $200M: $100M wine post-divestiture, remainder across corporate and beer. Bill noted efficiency gains get reinvested in the business to drive future growth.
Calendar 2024 Q4
we're going to ship in calendar '24 close to what we shipped in 1990, right? Like the category is definitely sick
Show response
Bill pivoted to STZ's outperformance rather than addressing broader category decline directly, highlighting Modelo runway, Pacifico/Victoria growth, and new LDA consumer acquisition.
Show 2 more companies
TAPMolson Coors Beverage Company2 questions · 2 reporting periods · 0 of 2 challenging
Calendar 2025 Q1
I'm just trying to isolate like what should be what we should be watching as we go through the balance of the year to support what's implied as an improvement organic sales
Show response
Gavin attributed the miss to unexpected macro deterioration, noted forecast assumes industry improves from down ~5% in Q1, and pointed to Q2 activation of Peroni and Fever-Tree plans as catalysts.
Calendar 2024 Q4
There must be something that's missing now that Molson Coors can add to it
Show response
Gavin highlighted distribution network reach (500K+ outlets vs Fever-Tree's tens of thousands), non-alc credibility building, and critical mass with ZOA and Naked Life additions.
BF-BBrown–Forman1 question · 1 reporting period · 0 of 1 challenging
Calendar 2025 Q2
is that your observation as you're kind of looking at the consumer and trying to understand what's happening specifically to Brown-Forman and the spirits? And any insight you can give us to help sq...
Show response
Lawson acknowledged spirits weakness but pushed back on structural narrative. Cited Europe facing same TDS trends without cannabis or GLP-1 factors as evidence of cyclical drivers. Noted spirits continues to take share from beer and wine, and premiumization has stagnated but not reversed.
Challenge rate by company
Every company this analyst questioned, most questions first. A company-level rate is shown from 3 questions; below that it is withheld.
| Company | Questions | Challenge rate |
|---|---|---|
| EL Estée Lauder Companies (The) | 3 | 0%none of 3 questions |
| PG The Procter & Gamble Company | 3 | 0%none of 3 questions |
| CL Colgate-Palmolive | 2 | —Rate withheld: fewer than 3 questions |
| KO The Coca-Cola Company | 2 | —Rate withheld: fewer than 3 questions |
| PEP PepsiCo | 2 | —Rate withheld: fewer than 3 questions |
| STZ Constellation Brands | 2 | —Rate withheld: fewer than 3 questions |
| TAP Molson Coors Beverage Company | 2 | —Rate withheld: fewer than 3 questions |
| BF-B Brown–Forman | 1 | —Rate withheld: fewer than 3 questions |
- ELEstée Lauder Companies (The) · 3 questions0%none of 3 questions
- PGThe Procter & Gamble Company · 3 questions0%none of 3 questions
- CLColgate-Palmolive · 2 questions—rate withheld: under 3 questions
- KOThe Coca-Cola Company · 2 questions—rate withheld: under 3 questions
- PEPPepsiCo · 2 questions—rate withheld: under 3 questions
- STZConstellation Brands · 2 questions—rate withheld: under 3 questions
- TAPMolson Coors Beverage Company · 2 questions—rate withheld: under 3 questions
- BF-BBrown–Forman · 1 question—rate withheld: under 3 questions
Activity by reporting period
Questions recorded for each calendar quarter that companies’ reporting periods map to (not the call date), with the challenge rate for that period. Periods inside the range with no questions are shown as “No questions recorded”.
| Calendar period | Questions | Challenge rate | Companies |
|---|---|---|---|
| 2024 Q3 | 2 | 0%none of 2 questions | 2 |
| 2024 Q4 | 7 | 14%1 of 7 questions | 7 |
| 2025 Q1 | 7 | 0%none of 7 questions | 7 |
| 2025 Q2 | 1 | 0%none of 1 question | 1 |
- 2024 Q32 questions · challenge rate 0% (none of 2 questions) · 2 companies
- 2024 Q47 questions · challenge rate 14% (1 of 7 questions) · 7 companies
- 2025 Q17 questions · challenge rate 0% (none of 7 questions) · 7 companies
- 2025 Q21 question · challenge rate 0% (none of 1 question) · 1 company
Topics
Topics tagged on this analyst’s questions.
- Competitive Dynamics7
- Demand6
- Revenue Growth5
- Margin4
- Geographic Expansion3
- M&A2
- Guidance Reliability2
- Trade Tariffs2
- Capital Allocation1
- Cost Pressure1
Show all 11 topics
- Pricing1