“We continue to believe, based on what we know today, that our fiscal year top and bottom line guidance ranges—and I emphasize ranges—remain the right ones,” said Moeller. “We will continue to monitor the situation and obviously update you if and when a different reality becomes apparent.”
During the conference, P&G chairman, president and CEO David Taylor recapped the progress the company had made in its plan to return to growth, and noted that the first half of fiscal year 2020 had been a strong start in sales, earnings per share and cash generation. In discussing the company’s plans for navigating the coronavirus, Moeller said doubling down on these strategies would enable P&G to deal with near-term macro, operational and competitive challenges.
“They are a foundation for strong, balanced growth and value creation over the short, mid and long term,” said Moeller. “The best response is to push forward, not to pull back. And that is exactly what we intend to do.”
The company this week introduced a line of multipurpose cleaners and sanitizing sprays promising to provide 24 hours of protection from bacteria growth. (Though it does not specifically reference coronavirus.) The Microban 24 cleaners kill 99.9% of bacteria in 5 minutes and protect surfaces even after multiple touches.
Three products are now available at major retailers: a sanitizing spray, a multi-purpose cleaner and a bathroom cleaner. While they’re designed for everyday use, they’re not meant to be used on food contact surfaces.
P&G reported net sales of $18.2 billion in its fiscal second quarter, up 5% from the prior year. It saw sales growth in its health care category (up 14%), as well as beauty (up 7%) and fabric and home care (up 4%).
The company is No. 2 on the CGT list of the 2019 Top 100 Consumer Goods Companies.