FY25 consensus $20.39B. Based on current spot rates: The company expects net sales to be roughly flat, including a mid-single-digit negative impact from foreign exchange. The company expects organic sales growth to be within its long-term targeted range of 3% to 5%, including the impact of the planned exit from private label pet nutrition over the course of 2025. On a GAAP basis, the company expects gross profit margin expansion with advertising investment flat to up slightly on both a dollar basis and as a percent to sales and mid-single-digit earnings-per-share growth. On a non-GAAP (Base Business) basis, the company expects gross profit margin expansion with advertising investment flat to up slightly on both a dollar basis and as a percent to sales and low to mid-single-digit earnings-per-share growth.
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