Financial Data and Key Metrics Changes - The company experienced a mixed fiscal year 2025, delivering less than expected top-line growth but exceeding expectations on margin and earnings due to a strong margin transformation program [1][2] - In Q4, the company delivered strong margin and earnings performance but underperformed on top-line growth [2] - The company expects to be at the low end of its range for Q1, with shipments rebounding and consumption expected to improve in September [3][4] Business Line Data and Key Metrics Changes - The U.S. business, which constitutes 85% of the company's operations, is undergoing a greenfield implementation of a new ERP system, which has faced some initial challenges but is expected to stabilize [3][4] - The company noted volatility in category growth, particularly in food, which has historically been steady, indicating a shift in consumer behavior [11][12] Market Data and Key Metrics Changes - The company anticipates U.S. retail growth to average 0% to 1% through the year, with category growth expected to be lower than historical averages [52][53] - The consumer is under stress, leading to cautious spending behavior, which is impacting category growth [13][25] Company Strategy and Development Direction - The company is focused on transforming its capabilities through significant investments, including over $550 million in rebuilding its digital foundation [21][22] - The strategy includes a strong emphasis on innovation, with plans to launch new platforms and expand existing ones in the back half of the year [35][55] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the challenges posed by a volatile consumer environment and competitive activity, but remains optimistic about the company's ability to recover and grow [20][25] - The company expects sequential improvements in consumption and market share, particularly in the back half of the year [54][55] Other Important Information - The company is currently in a stabilization phase following a cyber attack in 2023, which impacted operations but demonstrated the strength of its brands [23][24] - The company is committed to ensuring that its categories grow again and is focused on innovation and consumer insights to drive this growth [25][48] Q&A Session Summary Question: What are the long-term category growth expectations? - The company expects its categories to grow about 2% to 2.5% in the U.S., with recent volatility noted but stabilization expected [11][12] Question: Why is Clorox losing share in several categories? - Management indicated that while some categories are performing well, execution issues in certain areas, such as Kingsford, have led to share loss [16][19] Question: How is the organization managing the transformation amidst operational challenges? - Management clarified that the organization is not distracted but is focused on building strong capabilities to better respond to consumer needs [20][24] Question: What is the outlook for promotional activity in the current competitive environment? - The company sees a rational promotional environment overall but acknowledges heightened competitive activity in specific categories like litter and trash [47][49] Question: Can you discuss the guidance for the upcoming quarters? - The company anticipates a year-over-year decline of 7% to 8% due to ERP implementation noise, with organic sales growth expected to be between -1% to +2% [52][54]

Financial Data and Key Metrics Changes - The fiscal year 2025 was mixed for the company, with top-line performance falling short of expectations, but margins and earnings exceeding expectations due to a strong margin transformation program [1][2] - The company expects to be at the low end of its range for Q1, but anticipates a rebound in shipments and consumption in September [3][4] Business Line Data and Key Metrics Changes - The U.S. business, which constitutes 85% of the company's operations, is undergoing a greenfield implementation of a new ERP system, which has caused some initial disruptions but is expected to stabilize [3][4] - The company has seen volatility in category growth, particularly in food, which has historically been steady, but is now expected to be flattish to slightly growing this year [11][12] Market Data and Key Metrics Changes - The company noted that consumer behavior is under stress, leading to cautious spending and a tendency to trade down to larger sizes or value SKUs, which compresses category growth [13][14] - The company expects U.S. retail growth to average 0% to 1% through the year, with category growth anticipated to be lower than historical averages [55] Company Strategy and Development Direction - The company is focused on strong category investments and winning market share, aiming to return category growth to the historical range of 2% to 2.5% [14][27] - The company is investing over $550 million in rebuilding its digital foundation to enhance capabilities and respond more effectively to consumer needs [22][23] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by a volatile consumer environment and the need for rapid adjustments to plans in response to changing consumer behavior [21][20] - The company is optimistic about its innovation pipeline and plans to launch new platforms in the back half of the year, which are expected to drive growth [36][37] Other Important Information - The company experienced a significant cyber attack in 2023, which impacted operations but highlighted the strength of its brands as it regained distribution and share [24][25] - The company is currently in a stabilization phase following the ERP implementation, with expectations for productivity improvements and cost savings in the future [59][60] Q&A Session Summary Question: What are the long-term category growth expectations? - The company expects U.S. categories to grow about 2% to 2.5% on average, with recent volatility noted [11][12] Question: Why is Clorox losing share in many categories? - The company identified execution issues and rapid changes in consumer behavior as key factors for losing share in certain categories [15][20] Question: How is the organization managing the transformation and operational challenges? - Management emphasized that the organization is not distracted but is focused on building strong capabilities while navigating various challenges [21][26] Question: What is the outlook for promotional activity in the current environment? - The company noted a rational promotional environment overall, but acknowledged increased competitive activity in specific categories like litter and trash [48][50] Question: What are the key assumptions in the guidance for the balance of the year? - The guidance includes a significant impact from the ERP implementation, with expectations for organic sales growth to be between -1% to +2% [54][55]

Financial Data and Key Metrics Changes - The company delivered less than expected top-line results for FY 2025 but exceeded expectations on margin and earnings due to a strong margin transformation program [2] - The company expects to be at the low end of its range for Q1, with shipments rebounding and consumption expected to improve in September [6][7] Business Line Data and Key Metrics Changes - The U.S. business, which constitutes 85% of the company's operations, performed well in Q4, but there were challenges in order fulfillment and inventory management in August [4][5] - The company noted that while some categories are performing well, others, like food, have experienced unexpected volatility [11][12][23] Market Data and Key Metrics Changes - The company anticipates U.S. retail growth to average 0% to 1% for the year, with category growth expected to be lower than historical averages [71] - The company observed that consumers are trading down to larger sizes and more value-oriented SKUs, which compresses category growth [15][16] Company Strategy and Development Direction - The company is focused on strong category investments and aims to return to a growth rate of 2% to 2.5% once consumer conditions stabilize [16][33] - The company is undergoing a significant transformation, investing over $550 million to modernize its digital foundation and improve operational capabilities [27][28] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that the consumer is under stress due to inflation and uncertainty, which is affecting spending behavior [14][71] - The company is optimistic about its innovation pipeline and expects to launch new platforms in the back half of the year [48][75] Other Important Information - The company is implementing a new ERP system, which has created some short-term noise in sales figures but is expected to drive long-term productivity improvements [70][78] - The company is focused on maintaining brand superiority and has a framework in place to assess and improve its brand performance [53][54] Q&A Session Summary Question: What are the long-term category growth expectations? - The company expects categories in the U.S. to grow at about 2% to 2.5% historically, but recent volatility has made predictions more challenging [9][12] Question: Why is Clorox losing market share in several categories? - The company identified execution issues in certain categories, particularly in adapting to rapid consumer changes, but noted strong performance in international and professional segments [18][20][23] Question: How is the organization managing the transformation amidst operational challenges? - Management emphasized that the transformation is crucial and not a distraction, focusing on building capabilities to better respond to consumer needs [25][32] Question: What is the outlook for promotional activity in the current competitive environment? - The company sees a rational competitive environment overall but acknowledges increased promotional activity in specific categories like litter and trash [61][62] Question: What are the key assumptions in the guidance for the upcoming quarters? - The guidance includes expectations for organic sales growth to be between -1% to +2%, with a focus on improving consumption trends in the back half of the year [71][73]

Financial Data and Key Metrics Changes - The company reported first half net sales of approximately $203 million, which is flat year over year, with strong adjusted EBITDA margins of 24.7% despite significant investments in marketing and personnel [74][76] - The company ended the second quarter with approximately $289 million in cash and $352 million in debt, having generated $18 million in cash from operations year to date [75][76] - Inventory was approximately $78.3 million, down from $100.2 million at the end of the previous year [75] Business Line Data and Key Metrics Changes - The company launched three new innovations in 2025 compared to only one in 2024, including a scalp longevity treatment and a wash care system tailored for fine hair [56][58] - The new product launches have been well received, with Olaplex's five Bond Maintenance Conditioner and four Bond Maintenance Shampoo being the top-selling prestige hair launches in 2025 [59] Market Data and Key Metrics Changes - The premium haircare market is forecasted to grow at a 6% to 7% CAGR from 2024 to 2028, with premium haircare representing only 20% of the overall hair care market in 2024 [10][11] - The company is well-positioned to benefit from the ongoing premiumization trend in the hair care category [11][12] Company Strategy and Development Direction - The company’s strategy is built on three pillars: moving beyond damage repair, empowering professionals, and adding emotional resonance to the brand [13][26] - The company aims to broaden its addressable market by shifting product development and messaging to position Olaplex as a solution for everyday foundational hair health [13][14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's transformation progress and solid first-half results, while acknowledging that more work is needed to balance immediate improvements with long-term positioning [78] - The company maintained its fiscal year guidance, expecting net sales to range from a decline of 3% to an increase of 2% compared to fiscal year 2024 [76] Other Important Information - The company announced the acquisition of Bioscience, marking its first acquisition since its launch over ten years ago, which aims to develop transformative, bio-inspired technologies [62] - The company has implemented an AI-supported demand planning tool and enhanced data science capabilities to improve internal processes [68][69] Q&A Session Summary Question: What are the expectations for financial results in the second half of the year? - The company expects second half net sales to be more weighted towards the fourth quarter, with third quarter net sales anticipated to decline by high single digits year over year, offset by strong high single digit growth in the fourth quarter [76][77] Question: How is the company addressing its international market strategy? - The company has categorized its international markets into partner-led, direct investment, and lighter touch markets to focus investments where growth potential is highest [71][73] Question: What is the company's approach to innovation moving forward? - The company plans to leverage its R&D capabilities to launch two to three strategic products annually, supported by consumer education and stylist engagement [55][56]

The forward-looking statements in this presentation reflect the Company's current expectations and projections about future events and financial trends that management believes may affect the Company's business, financial condition and results of operation. These statements are predictions based upon assumptions that may such statements taken from third party industry and market reports. BARCLAYS GLOBAL CONSUMER STAPLES CONFERENCE SEPTEMBER 2, 2025 DISCLAIMER of any such state or jurisdiction. Forward Looki ...

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Financial Data and Key Metrics Changes - The company is focused on consistent organic volume growth and margin expansion as primary business aspirations [3][4] - The outlook for category growth this year was initially expected to decline in low single digits, but the company has outperformed the categories slightly [13][14] - Aluminum prices have increased from approximately $1.2 per pound to $1.9, prompting the company to implement a third price increase in the Reynolds Cooking and Baking business [40] Business Line Data and Key Metrics Changes - The company operates through four segments: Reynolds Cooking and Baking, Hefty Waste and Storage, Hefty Tableware, and Presto products [9][10][11] - The foam category is experiencing double-digit declines, impacting overall category expectations, while other categories are expected to remain flat [13] - The Hefty brand enjoys a 98% level of consumer awareness and has been a serial innovator, contributing to long-term share gains in the trash category [28] Market Data and Key Metrics Changes - The U.S. consumer is under pressure due to declining consumer confidence and rising debt levels, impacting overall market dynamics [38] - There is a trend towards larger pack sizes and lower opening price points across most categories [39] - The company has a U.S.-centric business model, with 90% of revenues coming from the U.S., which insulates it from tariff impacts compared to competitors relying on international supply chains [50][51] Company Strategy and Development Direction - The company aims to build a world-class team and elevate the finance team to become business partners driving results [5][6] - Innovation and marketing are critical for driving category growth, with a focus on aligning products with evolving consumer needs [15][16] - The company sees the brand and store brand business as complementary, allowing for better consumer segmentation and price point management [34] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the current operating environment is challenging, with commodity volatility and consumer pressure being significant factors [7][38] - The company is optimistic about its ability to manage costs and drive earnings stability through a more agile team [7][8] - Future capital allocation will focus on high-return opportunities, including automation and innovation [68][69] Other Important Information - The company has made significant progress in offering sustainable alternatives across all major categories, addressing consumer demand for sustainability [58] - The company has not pursued M&A since its last investor day but has focused on organic growth and brand extension into adjacent areas [60][61] Q&A Session Summary Question: What are the long-term growth drivers for the trash category? - The Hefty brand's strong consumer awareness, innovation, and effective marketing have driven long-term share gains in the trash category [27][29] Question: How does the company view the competitive dynamics in the market? - The competitive landscape is rational, with promotional activities resembling pre-pandemic levels, and the company is focused on maintaining its brand strength [19][31] Question: What is the company's approach to managing input costs and tariffs? - The company has seen a decrease in direct tariff exposure and is focusing on onshoring production to mitigate costs [46][50]

Essity FY Conference Summary Company Overview - **Company**: Essity - **CEO**: Ulrika Kolsrud - **Annual Net Sales**: SEK 146 billion - **Employees**: 36,000 across 150 countries - **Manufacturing Sites**: 70 Key Business Segments 1. **Consumer Goods**: Personal and home hygiene solutions, with a focus on higher-yielding segments like feminine hygiene and incontinence care, reducing dependency on lower-margin consumer tissue products [4][6] 2. **Health and Medical**: Highest profit margins, includes incontinence care under the TENA brand, and other categories like wound care and orthopedics [6][8] 3. **Professional Hygiene**: Represents 26% of sales, with the Tork brand providing hygiene solutions for commercial applications [7][8] Market Dynamics - **Incontinence Care**: Significant growth potential as 1 in 4 men over 40 experience urine leakage, with only 5% to 7% using purpose-made products [4] - **Feminine Hygiene**: Positive market share growth in regions like the UK, Australia, and Mexico [25] - **Baby Care**: Facing challenges due to declining birth rates [10] - **Economic Climate**: Limited impact on demand for essential hygiene products despite economic pressures; growth opportunities in developing and emerging (D&E) regions [10][11] Financial Targets - **Organic Growth Target**: Above 3% with a profit margin of 15% [11][53] - **Market Growth Rates**: Global average of 2% to 3%, with higher rates in health and medical segments [11] Strategic Focus - **Innovation**: Key to differentiation, market share gains, and sustainability [12][13] - **Customer Centricity**: Elevating focus on customer needs and experiences [12][22] - **Efficiency Gains**: Continuous improvement across the value chain [13] Recent Innovations - **TENA Men Product**: Facelift and new claims to capture growth potential [5] - **Coreless Toilet Paper Technology**: Reduces waste and enhances user experience [15] - **Tork Sensor-Based Dispenser**: Increased battery life from one year to six years [14] Challenges and Responses - **Volume Growth**: Flattish volume growth and increasing costs noted; focus on accelerating volume growth and reducing costs [18] - **Price Sensitivity**: Incontinence care remains less impacted by price sensitivity due to brand trust [32][33] - **Public Funding Pressure**: Addressing challenges in public funding for healthcare while promoting holistic solutions [30][40] Competitive Landscape - **Joint Venture Impact**: The JV between Suzano and Kimberly-Clark viewed as a rational competitor, with no major negative impact expected [28] - **Market Share Stability**: Gaining or stabilizing market share in most categories, with challenges noted in baby care [25] Future Outlook - **Geographical Expansion**: Focus on increasing presence in the U.S. and D&E markets [23] - **M&A Strategy**: Ambition to grow both organically and inorganically, particularly in wound care [42][44] - **Sustainability Recognition**: Acknowledged for efforts in sustainability, enhancing brand reputation [16][17] Conclusion - **Vision**: Commitment to becoming the undisputed global leader in hygiene and health, with a focus on profitable growth and stability [53][55]

Financial Data and Key Metrics Changes - The company raised its full year net sales guidance to 3% to 5% growth compared to the prior year, driven by strong performance in the coffee segment and Uncrustables [29][36] - Adjusted earnings per share guidance remains at $8.5 to $9.5, reflecting the impact of higher costs from U.S. tariffs [29][42] - The company aims to generate over $1,000,000,000 in free cash flow annually, with a long-term target for capital expenditures at approximately 3.5% of net sales [30][31] Business Line Data and Key Metrics Changes - The coffee segment is performing well despite record high green coffee prices, with favorable price elasticity of demand trends [6][39] - Uncrustables brand is expected to grow annual net sales to over $1,000,000,000, driven by marketing, distribution gains, and innovation [9][15] - The pet segment, particularly Meow Mix, is experiencing positive momentum, while Milk Bone faces challenges due to consumer caution in discretionary spending [17][60] Market Data and Key Metrics Changes - The U.S. retail coffee market shows resilience, with over 70% of coffee consumed at home, making it affordable despite inflation [39] - The convenience store channel is expanding for Uncrustables, with over 30,000 convenience stores now selling the product [14] - The cat food category is benefiting from pet population growth, with Meow Mix leading in new buyers [21][60] Company Strategy and Development Direction - The company is focused on long-term growth through brand building, innovation, and capital deployment strategies [4][30] - Key growth platforms include Cafe Bustelo, Uncrustables, Meow Mix, Milk Bone, and Hostess Brands, with a strong emphasis on consumer-led innovation [5][16] - The Hostess brand is undergoing a strategy to stabilize and position for long-term growth by reducing SKU count and enhancing marketing efforts [22][25] Management's Comments on Operating Environment and Future Outlook - Management expresses confidence in the company's ability to create long-term value for shareholders despite navigating a dynamic environment [5][28] - The company acknowledges challenges from inflation and tariffs but remains optimistic about sustaining organic growth [36][42] - Future expectations include low single-digit net sales growth and a commitment to a disciplined capital deployment model [30][33] Other Important Information - The company has increased its dividend for the twenty-fourth consecutive fiscal year, reflecting a commitment to returning capital to shareholders [32] - The company plans to prioritize debt reduction, aiming to pay down $500,000,000 of debt annually [31] Q&A Session Summary Question: Key takeaways from recent results - The company delivered 3% comparable growth and raised top line guidance based on strong coffee performance and Uncrustables [34][36] Question: Coffee category consumer behavior - The coffee portfolio is performing well due to affordability and strong brand positioning, despite significant inflation [39][40] Question: EPS outlook and reinvestment strategy - The company aims to balance earnings recovery with reinvestment in brand growth, expecting sequential improvement in margins [46][47] Question: Progress in Sweet Baked Snacks - The company is focused on stabilization and expects sequential profit improvement, with positive trends in key customer channels [48][49] Question: Uncrustables performance and competition - Uncrustables continues to perform excellently with strong distribution gains and innovation, maintaining a competitive edge through brand building [51][55] Question: U.S. Retail pet foods outlook - Meow Mix is performing well, while Milk Bone faces challenges; however, innovation and brand building efforts are expected to drive recovery [59][60]