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Are we run rating at a new level for free cash flow conversion? Do you see a level of sustainability up here over 100%?
I wanted to see if you maybe could just take sort of a 2-, 3-year view on the margin trajectory for your key U.S. businesses.
Can you just give us the latest on Conagra Brands' approach to its portfolio, you know, how you think through portfolio opportunities one way or the other
Is there any reason why it shouldn't be back in that you know, 2% range going into next year based on what we can see today?
private label is going to be seeing a lot of inflation as well. Presumably, that should be maybe improving your competitive stance vis a vis private label
it does appear that you potentially need productivity to kind of run twice the rate that you've historically driven? As a benefit to gross margins. I wonder if that checks out on your math
How much of that is associated with you know, the top line know, the consumer response to this environment relative to your cost structure
you said that the shipments would come at a higher cost but you also expect gross margins to improve
You noted that consumption slowed on year-ago activity that was strong in the base period. Can you give us an update on how you are thinking about growth of the business, the sustainability of growth
When you think about your Q1 delivery, how important are those gains to what we are seeing today, and really speaking to the durability of some of the volume growth that we are seeing relative to p...
how might the positive contribution from TOUCHLAND help offset any of the potential profit outcomes you could envision from actions you may take on the vitamin business?
And in general, how would you view the competitive backdrop right now and your potential need to respond, any activity that you're seeing?
Can you just expand on what's going right and some of the strategies that you're implementing to put up some nice market share performance?
Can you just give a bit of context on what might push you one way versus the other
how conscious, the vitamin business, how to plan for this year on a performance category is widening. At what point does patients with plan run out
how much was the revenue call down versus tariffs -- and maybe just simply put, what is the tariff effect that you're embedding for this year?
What are you embedding from a category growth perspective?
I just wanted to see if this adjust or alters your plan for pricing perhaps specifically in emerging markets
just as a follow-up on North America, the margins were a bit light this quarter
what is the kind of the state of the union on how Colgate is thinking about using the balance sheet, perhaps more specifically with M&A
were there anomalies in Q3 gross profit that should be easing from here over and above just the rising commodity backdrop
Where are you seeing this business going from here?
in what regions or product categories do you have the highest level of confidence
Can you expand a bit more on some of the end-market competitive activity you're seeing with some specificity on specific markets
Was there any kind of like shipment versus consumption dynamic in the quarter?
Are you having those portfolio review conversations? Is that activity becoming a bit sharper?
Is still correct to think about you know, taking the impact from the ERP shift this year And then adding that back effectively and in fiscal twenty seven and then assuming some underlying growth.
are we talking about you have these great innovations, you'll be leaning in more and you're basically funding that with the incremental cost savings that you're getting from more favorable commodit...
can you give us maybe a sense of how you're thinking about the concept of portfolio and what you're really trying to accomplish
how are you thinking about what this business should be delivering over a medium-term horizon from a top line perspective
can you just talk about, number one, what you plan to do around tariff mitigation? And secondly, does that involve accelerating productivity programs
how do you view that low-single digits from a clean perspective? Are you still recapturing distribution points or do you view that as a clean underlying number that you would extrapolate going forw...
if I look at the segment disclosures, pricing's flat and Health and Wellness price mix that is down 5 and Household down 8
I think I think this is
Can you give us a sense of how you see the U.K., how the strategies to improve the market are evolving?
your outlook for the market in the medium term
can you just talk about perhaps your ability to sustain stable, let's call it, SG&A dollars over the next few years
regarding the quarter-to-date developments, specifically in Asia that you highlighted in the press release
Can you just expand a bit on the percentage of your portfolio where you've taken or initiated pricing investments?
Can you just expand on where we're at with Wilderness, the current strategy with Wilderness
how do you ensure that this isn't a race to the bottom with branded competitors or private label?
is there a message today that the savings targets between HMM and the incremental $100 million are there to be fully reinvested back into the business?
do you still feel good about the margin targets that you had put out there at Investor Day
give us a bit more insight on some of the key wins how you expect those benefits to come through and some of the timing
Do you have a view on where you want volumes to be as we look out over the next eighteen months? And when you think volumes can get back to kind of flattish to positive
how aggressive can you be about hedging the current drop? And if I heard it correctly, did I hear that you don't need to take pricing in 2027
the tax rate came up. Obviously, there's been a sort of reorientation of tax rate
Is it fair to say that if cocoa had not come down, you probably would have to take even more pricing into next year
the tax rate coming up for the year, some evolution of tax credits. Steve, is that a permanent dynamic going forward
is there a way to frame how much you're thinking about that, which is tariffs relative to lingering cocoa inflation relative to the pricing
Can you expand a bit, maybe give us an early -- some early insights on the evolution of your thinking over the past few months
how does pricing come into the equation? Has there been any evolution in your thinking of how large the sorts of tools
the implied gross margin for Q1, I think it's like 41% and maybe roughly 35% for the remainder of the year. Is it fair to assume that the core differential
you're announced plans to transition out of your role, which is exciting. Can you maybe provide any more color or just context on the search process
How much visibility do you have in your coffee costs at this point of the year, I assume, high?
I wanted to just start with some context on the top line performance for stand alone Keurig Dr Pepper Inc. specifically contribution from The US refreshment business
can you just talk about how you see the evolution or the relative contribution of these businesses a bit more medium term
Can you maybe just help us frame how you would view, maybe with a bit more specificity your free cash flow development
I wanted to just maybe talk through the building blocks for 2025 beginning with the commentary on Q1
can you unpack that a little bit across the most meaningful drivers
What does the toolkit look like for you to work through a sustained higher inflation environment
how you envision this playing out. Will you Lead with more promotional activity early starting in Q2? We expect price rollbacks beginning in Q2
From a gross margin perspective, specifically the Q2 weakness, that you're expecting
if you could diagnose what you think is driving some of this underperformance relative to categories on a broader level
how you feel differently right now, whether that's the time lag when commodities hit your P&L
can you just help reconcile or clarify whether there's been any evolution in the expectations, you know, as of the S-4 relative to where we are today?
I specifically wanted to dig a bit deeper on the comment that North America is kind of tracking well quarter-to-date
are you pulling forward future savings? Are you now thinking that the savings program will be bigger over time than your prior expectations
This is the first quarter in a few years where the underlying contribution to gross margin is a bit negative
can you perhaps comment on some of the markets which have been a bit more challenging or more volatile perhaps than usual in 2025
I wanted to ask 2 category questions. So just on coffee
North America margins were, you know, incredibly strong in Q2 even with higher marketing on a year-on-year basis
To what level are such margins sustainable? And do you envision any caveats in the quarter
Can you just maybe provide some context, number one, on how incremental moves in aluminum might impact your cost per case outlook
Can you help us understand regionally where that change might be occurring? Some of the key drivers
Should we expect the media investment to be done in 2026, the rebasing of media, the rebasing of comp
a strategy that's a bit more focused on value and protecting the profit pool is the right strategy as we exit this cycle
Is there any pull forward of investment that you had planned for 2026 coming into Q4 as you see some opportunities
Do you think you're tracking better than your going inflation expectations? Are there more opportunities to procure commodity
if cocoa were to go down, and that's going to help your margins a lot, would you give some of that back-in pricing
I just wanted to get your take on the ability to confront this cost environment with some of the tools that you have
Is there any pull forward that you're seeing ahead of those pricing discussions? Any timing dynamics that we should be thinking about
can you just talk about the sorts of things that you're looking at in order to make that decision about new pricing
World Cup activation look like for PepsiCo, perhaps specifically for Frito, how is it different versus past events
Maybe just a few tidbits on how you're thinking about Mountain Dew and how to reinvigorate some of the growth
how much of this is the consumer shifting preferences you know, toward, you know, healthier eating
how flexible is the system to responding to ingredient changes
Do you think that this is the start of something that can be a bit more durable? What are your expectations for the brand from here
What specific about what's going on in Europe that has allowed you to see that positive balance of delivery over the course of this year
are you seeing competitive activity start to ease as competition needs to become a bit more rational
I wanted to ask about the concept of pricing power and whether you think that this is different
give us a sense of the sort of cost of this progress, I suppose? And kind of the balance between the restructuring
I do think it implies then that you're seeing improvement in businesses outside of that Skin & Personal Care segment
Can you talk about just the durability of the trends that you're seeing? 618 is obviously more of an annual
the glide path back to category growth rates, I think you had said something like over, you know, the next two
In the Family Care business, the double digit growth you saw, would you attribute most of that to timing
organic sales in the quarter were pretty substantially below consumption, at least on our data. Why was that? What drove the gap between consumption and what you reported
I think it came in a bit light of expectations. Perhaps those expectations were a function of that compare in the base period
you've made some comments about fiscal 2026 EPS being above algorithm. And as we assess Hostess trends, clearly an expectation for it to get better
What is your assessment of sequential developments in the coffee category and also for your business? And how do you see the impact of elasticity, perhaps weather
are you expecting a step-up in depreciation this year with the capacity
you need to believe that these margins are going to turn positive, more than a little positive, to get to the full year guidance
Does this moment in time, give you a bit more credence to think about maybe investing or diversifying the portfolio
I'm really trying to parse out the impact of tariffs on this model, whether that's just the aluminum cans relative to everything else
Can you just give us a sense of what an improvement means, does that mean back to share growth and some of the key drivers as you see them?
is there any phasing considerations that you want to put out there for the guidance this year
Does that mean if the category improves a little bit next year from the current lows? You would be entering 2025 with low inventory
Have you seen any of those increases in Q2? Or is that all in the back half of the year?
This was the first quarter, I believe of small net favorability in cost inflation within your COGS for hectoliters disclosures
I was wondering if you could comment a bit on what we're seeing in the beer category, specifically year-to-date