PROCTER & GAMBLE (PG) Company Report

On November 3, 2025, Procter & Gamble closed an €500 million 2.900% Notes due November 3, 2033 and €500 million 3.650% Notes due November 3, 2045 under its Form S-3 registration.
On the same date, the company also issued $750 million 4.100% Notes due November 3, 2032 and $500 million 4.350% Notes due November 3, 2035.
Legal opinions for these offerings were filed as Exhibits (5)(a)–(5)(d) to the Form 8-K.

Nov 3, 2025, 9:23 PM

8-K

Procter & Gamble reports Q1 FY 2026 results

Earnings

Organic sales grew 2%, with volume flat as pricing and mix each contributed one point to growth.
Core EPS was $1.99, up 3% year-over-year (currency-neutral core EPS +3%).
Total productivity savings of 230 bps offset a 50 bps contraction in core gross margin; core operating margin was flat.
Beauty segment delivered +6% organic sales and +5% net earnings; Grooming saw +3% organic sales and +9% net earnings (constant currency).
Global aggregate value share declined 30 bps, with 24 of the top 50 category/country combinations holding or growing share.

Oct 24, 2025, 2:10 PM

8-K

Procter & Gamble reports Q1 fiscal 2026 results

Earnings

Guidance Update

Share Buyback

Delivered 2% organic sales growth in Q1, with volume flat and pricing/mix each contributing 1%; marks 40th consecutive quarter of organic growth.
Broad-based performance: 8 of 10 categories grew or held organic sales; Greater China +5%, Latin America +7%; global market share down 30 bps; core EPS of $1.99, up 3%.
Generated strong cash flow: 102% free cash flow productivity and returned $3.8 billion to shareholders via $2.55 billion in dividends and $1.25 billion in share repurchases.
Maintained FY 2026 guidance for organic sales growth of in-line to +4% and core EPS of $6.83–$7.09; Q2 expected to be the softest quarter with stronger growth in the back half; guidance reflects $500 million in tariffs and a 30–50 bps restructuring headwind.

Oct 24, 2025, 12:30 PM

Transcript

Procter & Gamble reports Q1 FY2026 results

Earnings

Guidance Update

Layoffs

Organic sales grew 2%, driven by pricing and mix up 1% each and flat volume, marking the 40th consecutive quarter of organic growth and on track for the 10th consecutive year of core EPS growth.
Core EPS of $1.99, up 3% versus prior year; core gross margin down 50 bps and core operating margin flat year-over-year.
Returned $3.8 billion of cash to shareholders in Q1—$2.55 billion in dividends and $1.25 billion in share repurchases—and maintained FY2026 guidance for organic sales growth in line to +4% and core EPS of $6.83–$7.09.
Announced restructuring to fund superiority investments, targeting up to $1.5 billion in cost-of-goods-sold savings and reducing up to 7,000 non-manufacturing roles (≈15% of workforce) over fiscal 2026–2027.
Rolled out major innovations including Tide’s largest liquid upgrade in 20 years, expansion of Tide Evo, comprehensive Pampers enhancements, and new premium body wash launches in China contributing to 8% skin & personal care growth.

Oct 24, 2025, 12:30 PM

Transcript

P&G reports Q1 FY2026 results

Earnings

Guidance Update

Q1 FY 2026 organic sales grew 2% driven by pricing (+1 point) and mix (+1 point) with flat volume; core EPS was $1.99, up 3%, with currency-neutral core EPS also up 3%.
Fabric & Home Care saw flat organic sales, –2% volume and –3% net earnings; Baby, Feminine & Family Care delivered flat organic sales and +4% net earnings.
Adjusted free cash flow productivity reached 102% for the quarter.
FY 2026 guidance: organic sales growth 0–4%, core EPS growth 0–4%, and all-in EPS growth 3–9%.

Oct 24, 2025, 12:30 PM

Presentation

Procter & Gamble reports Q1 2026 results

Earnings

Guidance Update

Layoffs

Procter & Gamble delivered 2% organic sales growth (volume flat; pricing and mix each +1%) and core EPS of $1.99, up 3% year-over-year.
Returned $3.8 bn of cash to shareowners in Q1: €2.55 bn in dividends and €1.25 bn in share repurchases; adjusted free cash flow productivity was 102%.
Maintained full-year guidance for organic sales growth in line to +4% and core EPS growth in line to +4% (DKK 6.83–7.90 per share).
Initiated a restructuring to reduce up to 7,000 non-manufacturing roles (≈15% of non-manufacturing workforce) over FY26–27 to fund innovation and expand productivity programs.

Oct 24, 2025, 12:30 PM

Transcript

Procter & Gamble reports Q1 2026 results

Earnings

Guidance Update

Layoffs

Organic sales +2%, volume flat, pricing and mix each +1%; core EPS $1.99 (+3%) and adjusted free cash flow productivity 102%; returned $3.8 billion to shareholders (dividends $2.55 billion, repurchases $1.25 billion).
Growth was broad-based: skin & personal care up high single digits, hair care/grooming/personal health care/home care/baby care up low singles; North America +1%, Europe flat, Greater China +5%, Latin America +7%.
Maintained FY 2026 guidance: organic sales in-line to +4%, core EPS $6.83–7.09 (+1–4% at midpoint), including a 30–50 bps headwind from restructuring, $100 million commodity headwind, $300 million FX tailwind, and $500 million tariffs impact.
Advancing restructuring to fund innovation: up to 7,000 non-manufacturing roles to be cut, target $1.5 billion COGS savings, portfolio exits, and supply chain upgrades; major product initiatives include Tide liquid upgrade, Tide Evo, and Pampers enhancements.

Oct 24, 2025, 12:30 PM

Transcript

P&G announces fiscal Q1 2026 results

Earnings

Guidance Update

Dividends

P&G reported fiscal Q1 FY2026 net sales of $22.4 billion (+3%) and organic sales growth of 2%, with diluted EPS of $1.95 (+21%) and core EPS of $1.99 (+3%).
The company maintained its FY2026 guidance, targeting 1–5% all-in sales growth, in-line to +4% organic sales, 3–9% diluted EPS growth (implied $6.83–$7.09, midpoint $6.96) and in-line to +4% core EPS growth.
In Q1, P&G returned $3.8 billion to shareholders via $2.55 billion in dividends and $1.25 billion in share repurchases, and plans ~$10 billion in dividends and ~$5 billion in buybacks for FY2026.

Oct 24, 2025, 11:04 AM

8-K

P&G announces fiscal year 2026 Q1 results

Earnings

Guidance Update

Dividends

P&G reported Q1 FY 2026 net sales of $22.4 billion, up 3%, with organic sales +2% year over year.
Diluted EPS was $1.95, a 21% increase, and core EPS was $1.99, up 3% versus the prior year.
Operating cash flow reached $5.4 billion, with net earnings of $4.8 billion; the company returned $3.8 billion to shareholders via dividends and share repurchases.
P&G maintained its FY 26 guidance, including all-in sales growth of 1–5%, organic sales growth in-line to 4%, diluted EPS of $6.83–$7.09, and core EPS growth in-line to 4%.

Oct 24, 2025, 11:00 AM

Press Release

Procter & Gamble AGM approves proxy votes, announces CEO succession

Proxy Vote Outcomes

CEO Change

Dividends

Shareholders re-elected 14 directors, ratified Deloitte & Touche as auditor, approved the advisory vote on executive compensation and the 2025 Stock and Incentive Compensation Plan, and rejected the shareholder proposal on flexible plastic packaging.
Jon R. Moeller will transition to Executive Chairman and Shailesh G. Jejurikar will assume the role of President and Chief Executive Officer effective January 1, 2026.
The Board declared a quarterly dividend of $1.0568 per share, payable November 17, 2025, to shareholders of record as of October 24, 2025—marking P&G’s 135th consecutive year of dividend payments and 69th consecutive increase.
Sustainability achievements include zero manufacturing waste to landfill since 2020, a 60% reduction in manufacturing greenhouse gas emissions since 2010, 80% of packaging designed to be recyclable or reusable, and a 21% reduction in virgin plastic use since 2017.

Oct 14, 2025, 1:00 PM

Transcript

Earnings Transcripts

Quarterly earnings call transcripts for PROCTER & GAMBLE.