Colgate-Palmolive Company (NYSE:CL) Presents at Consumer Analyst Group of New York Conference February 23, 2024 8:00 AM ET Company Participants Noel Wallace - Chairman, President and CEO Diana Schildhouse - Chief Analytics & Insights Officer Conference Call Participants Bryan Spillane - Bank of America Dara Mohsenian - Morgan Stanley Chris Carey - Wells Fargo Andrea Teixeira - JPMorgan Peter Grom - UBS Unidentified Company Representative So, with that, joining us today from Colgate, our Chairman and CEO, No ...

Ford Motor Company (NYSE:F) Barclays Industrials Conference Transcript February 22, 2024 8:35 AM ET Executives Navin Kumar - Chief Financial Officer, Ford Pro Analysts Dan Levy - Barclays Andrew Keches - Barclays Dan Levy Thank you everyone for joining us on day two of the Barclays Industrial Select Conference, the autos track here. I’m Dan Levy. I lead U.S. autos research coverage and I’m joined here by my colleague, Andrew Keches, who leads coverage of autos on the IG credit side, and very pleased to have ...

Church & Dwight Co Inc (NYSE:CHD) Presents at CAGNY 2024 Conference (Transcript) February 22, 2024 3:00 PM ET Company Participants Matthew Farrell - President, CEO & Chairman Richard Dierker - CFO, Executive VP & Head of Business Operations Conference Call Participants Dara Mohsenian - Morgan Stanley Andrea Teixeira - JPMorgan Unidentified Company Representative Good afternoon, everybody, and welcome back. Our next presenters, Church & Dwight, have been longtime supporters of CAGNY in our conference. And to ...

Amgen Inc. Rare Disease Investor Analyst Call Summary Company Overview - **Company**: Amgen Inc. (NASDAQ: AMGN) - **Date of Call**: February 22, 2024 - **Focus**: Rare Disease as a new growth pillar alongside general medicine, oncology, and inflammation [3][4] Key Points and Arguments Strategic Focus on Rare Disease - Rare disease is identified as Amgen's fourth and newest growth pillar, enhancing existing opportunities in other therapeutic areas [3][4] - The acquisition of TAVNEOS and Horizon has strengthened Amgen's portfolio in rare diseases, establishing a robust growth avenue [4] Growth Projections - Anticipated sustained growth across all pillars through the end of the decade, driven by marketed products and innovative pipeline projects [5][7] - Rare disease products generated nearly $4 billion in sales in 2023, primarily in the U.S., indicating significant room for international expansion [13] Innovative Product Portfolio - Key medicines include: - **TEPEZZA**: First treatment for thyroid eye disease, addressing a critical unmet need [8] - **KRYSTEXXA**: Treatment for uncontrolled gout, showing a 70% reduction in uric acid levels in clinical trials [36][38] - **UPLIZNA**: Targets neuromyelitis optica spectrum disorder (NMOSD), with over 75% reduction in relapse risk [47] - **TAVNEOS**: First-in-class treatment for ANCA-associated vasculitis, showing superior results in sustaining remission compared to standard therapy [60][61] Market Opportunities - Rare diseases often lack treatment options, with only 5% of the estimated 10,000 rare diseases having available therapies [10] - The U.S. market for TEPEZZA has a penetration rate in the high single digits, indicating substantial growth potential [27] - International expansion is a priority, with regulatory reviews and filings underway in Japan and Europe for TEPEZZA [30][31] Patient Challenges and Support - Patients with rare diseases face significant barriers, including misdiagnosis, limited treatment options, and geographic access issues [11][12] - Amgen is committed to enhancing disease awareness and providing comprehensive support to improve patient outcomes [12] Financial Stability and Shareholder Value - Amgen's combined cash flow supports ongoing investments in innovation while delivering shareholder value through a growing dividend [7] - The strategic focus on rare diseases is expected to accelerate revenue growth and contribute to non-GAAP earnings starting in 2024 [7] Research and Development Capabilities - Amgen leverages its robust R&D capabilities and biologics manufacturing expertise to advance its rare disease portfolio [6] - The company is utilizing advanced research platforms to fill data gaps and expedite the development of rare disease medicines [67][68] Pipeline and Future Indications - Ongoing Phase 3 trials for UPLIZNA in IgG4-related disease and myasthenia gravis, with expected data readouts in the second half of 2024 [53][55] - Continued focus on expanding the rare disease portfolio and enhancing treatment options for patients [66] Additional Important Insights - The call highlighted the importance of patient advocacy and community support in addressing the unique needs of rare disease patients [16] - Amgen's commitment to innovation and patient-centric approaches positions it favorably in the rare disease market, with a strong reputation among patient advocacy groups [17] This summary encapsulates the key points discussed during the Amgen Rare Disease Investor Analyst Call, emphasizing the company's strategic focus, growth opportunities, and commitment to addressing the needs of patients with rare diseases.

Clorox Co (NYSE:CLX) Consumer Analyst Group of New York Virtual Conference Call February 22, 2024 2:00 PM ET Company Participants Kevin Jacobsen - EVP & CFO Linda Rendle - CEO & Chairman Conference Call Participants Olivia Cheang - Raymond James & Associates Dara Mohsenian - Morgan Stanley Peter Grom - UBS Christopher Carey - Wells Fargo Securities Andrea Teixeira - JPMorgan Chase & Co. Unidentified Analyst Next up, I'm happy to welcome Clorox back to the CAGNY stage. It's certainly been an eventful few yea ...

Air Products and Chemicals, Inc. (NYSE:APD) Citi Global Industrial Tech and Mobility Conference Call February 22, 2024 8:50 AM ET Company Participants Samir Serhan - EVP & COO Siddharth Manjeshwar - VP, Treasury & IR Conference Call Participants Patrick Cunningham - Citigroup Patrick Cunningham Good morning, everyone. My name is Patrick Cunningham. I'm the North America chemicals analyst here at Citi. Today, I'm joined -- excited to be joined by Air Products, one of the world's leading industrial gas compan ...

Carrier Global Corporation Conference Call Summary Company Overview - **Company**: Carrier Global Corporation (NYSE:CARR) - **Event**: Barclays 41st Annual Industrial Select Conference - **Date**: February 22, 2024 Key Points Industry and Market Dynamics - **Heat Pump Transition**: The European market is undergoing a significant transition to heat pumps, driven by EU regulations targeting a 55% reduction in greenhouse gas emissions by 2030 and 90% by 2040, with heat pumps being a critical component of this transition [2][3] - **Legislative Impact**: Recent legislative debates in Germany have temporarily dulled new orders, but the long-term outlook for heat pumps remains strong [3][4] - **Country-Specific Growth**: Projected mid-single-digit growth in Germany, double-digit growth in France and Poland, and a decline in Italy. Poland is expected to see pent-up demand due to a change in administration [4] Financial Performance and Projections - **Viessmann Sales**: Viessmann's sales were flat in January, but EBITDA is expected to be higher than initial plans. The company is confident in achieving cost synergies [6][4] - **Pricing Environment**: The pricing environment is expected to remain rational, with a focus on direct installer channels rather than wholesaler inventory [8][12] - **Aftermarket Growth**: The aftermarket segment is projected to grow at double-digit rates, contributing significantly to overall business performance [3][33] Strategic Initiatives - **Revenue Synergies**: Potential revenue synergies from the Viessmann acquisition could reach hundreds of millions, particularly through multi-brand and multichannel sales strategies [22][24] - **Capacity Expansion**: Viessmann is constructing a state-of-the-art heat pump facility in Poland, expected to be completed by summer 2024 [26] - **Commercial HVAC Strength**: The commercial HVAC business is experiencing strong demand, particularly in data centers and education sectors, with a significant backlog of orders [28][30] Financial Guidance - **Margin Expansion**: The company aims for annual operating margin expansion of 50 to 100 basis points, with a target of 6% to 8% organic growth [37][49] - **Free Cash Flow**: Expected free cash flow to increase by 10% this year, with a target of achieving free cash flow at or above 100% of reported net income [43][44] Divestment Strategy - **Ongoing Exits**: The company is in the process of divesting several business units, with expectations to return to a net leverage of about 2x by the end of the year [39][40] Market Positioning - **Long-Term Growth**: Carrier is positioned as a leader in HVAC and intelligent climate solutions, with a focus on high-growth markets in residential heating in Europe and commercial HVAC [48][50] Conclusion - **Sustainability Focus**: Carrier emphasizes its commitment to sustainability as a megatrend, positioning itself to capitalize on future growth opportunities in the HVAC sector [52]

3M Company (NYSE:MMM) Barclays 41st Annual Industrial Select Conference February 22, 2024 8:00 AM ET Company Participants Mike Roman - Chairman & Chief Executive Officer Monish Patolawala - President & Chief Financial Officer Conference Call Participants Julian Mitchell - Barclays Julian Mitchell Welcome, everyone, to this morning's Industrial Select Conference. It's my pleasure to start today with 3M. We have Mike Roman, Chairman and CEO; and also Monish Patolawala, Chief Financial Officer. So welcome, Mik ...

Procter & Gamble Company (NYSE: PG) CAGNY Conference Summary Company Overview - **Company**: Procter & Gamble Company (P&G) - **Date**: February 22, 2024 - **Participants**: Jon Moeller (Chairman, President & CEO), Andre Schulten (CFO), Jon Chevalier (SVP of Investor Relations) Key Points Industry Performance - P&G has consistently grown or maintained market share in a majority of its top 50 category/country combinations since 2018, continuing this momentum into the recent quarter [2][4] - Fiscal 2023 marked the fifth consecutive year of 5% or better organic sales growth, with a strong start to fiscal 2024, achieving over 5% organic sales growth in the first half [4][5] - The company expects to deliver towards the top end of its 4% to 5% guidance range for the year as market growth rates normalize [4] Financial Highlights - Quarter two marked the 22nd consecutive quarter of 4% or better organic sales growth [4] - Core earnings per share increased by 16% year-to-date, with a 19% increase on a currency-neutral basis [6] - P&G returned over $7 billion to shareholders, including $4.5 billion in dividends and $2.5 billion in share repurchases [12] Market Dynamics - Global aggregate market share increased by 30 basis points, with 29 of the top 50 category/country combinations holding or growing share [6] - The company anticipates a reduction in pricing contribution to top-line growth by 1 to 2 percentage points in the latter half of the year [5] - P&G is experiencing strong volume growth in North America and Europe, with organic sales in focus markets up 5% and enterprise markets up 10% [5] Strategic Focus - P&G is committed to an integrated growth strategy that emphasizes cost discipline, productivity, and prudent capital allocation [3] - The company continues to invest in innovation, with a focus on superior product development and effective marketing strategies [10][15] - P&G's productivity initiatives have allowed for increased investment in demand creation, with advertising spend expected to rise by approximately 70 basis points compared to fiscal 2019 [8] Innovation and Product Development - P&G has launched several successful innovations, such as Charmin Ultra Soft and GilletteLabs razors, contributing to significant market growth [16][17] - The company is leveraging digital tools and AI to enhance product development and marketing efficiency, reducing design timelines significantly [41][42] - P&G's commitment to sustainability is evident in innovations like Ariel Platinum PODS, which improve wash results while reducing environmental impact [28][29] Challenges and Outlook - The company anticipates continued volatility in input costs, currency fluctuations, and geopolitical dynamics, particularly in Greater China and parts of Europe [13] - Despite these challenges, P&G remains confident in its strategy and ability to deliver balanced growth and value creation for shareholders [32] Market Opportunities - P&G sees significant growth potential in international and emerging markets, with Enterprise Markets growing at rates one-third to twice as high as Focus Markets [51] - The company is focused on maximizing value growth in established brands while exploring opportunities in smaller brands [51] Conclusion - P&G's strategic focus on innovation, productivity, and market growth positions it well for continued success in a challenging environment, with a commitment to delivering superior value to consumers and shareholders alike [32]

U.S. Bancorp (NYSE:USB) Bank of America 2024 Financial Service Conference February 22, 2024 8:50 AM ET Company Participants Tim Welsh – Vice Chair, Consumer and Business Banking John Stern – Chief Financial Officer Conference Call Participants Ebrahim Poonawala – Bank of America Securities Ebrahim Poonawala Let me go ahead and get started. So for our first presentation on the 3rd Day of our Financials – 3rd and last day of our Financials Conference, we have next up U.S. Bancorp. From USB, we have Tim Welsh, ...