The Procter & Gamble Company (PG) Earnings
The Procter & Gamble Company is expected to report next earnings on July 29, 2026 (in NaN days), with a consensus EPS estimate of $1.44. PG has beaten EPS estimates in 10 of its last 12 reported quarters (average surprise +2.3% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 24, 2026 | $1.56 | $1.59 | +1.9% | $21.2B | +3.4% |
| Jan 22, 2026 | $1.86 | $1.88 | +1.1% | $22.2B | -0.4% |
| Oct 24, 2025 | $1.90 | $1.99 | +4.7% | $22.4B | +0.9% |
| Apr 24, 2025 | $1.52 | $1.54 | +1.3% | $19.8B | -1.9% |
| Jan 22, 2025 | $1.89 | $1.88 | -0.5% | $21.9B | +1.4% |
| Oct 18, 2024 | $1.90 | $1.93 | +1.6% | $21.7B | -1.1% |
| Apr 19, 2024 | $1.41 | $1.52 | +7.8% | $20.2B | -1.2% |
| Jan 23, 2024 | $1.70 | $1.84 | +8.2% | $21.4B | -0.2% |
| Oct 18, 2023 | $1.72 | $1.83 | +6.4% | $21.9B | +7.0% |
| Jul 28, 2023 | $1.32 | $1.37 | +3.8% | $20.6B | +13.9% |
| Apr 21, 2023 | $1.32 | $1.37 | +3.8% | $20.1B | +0.4% |
| Jan 19, 2023 | $1.59 | $1.59 | +0.0% | $20.8B | +0.1% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q3 FY2026 · April 24, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
Solid top-line acceleration in fiscal third quarter. Broad-based growth across business and regions. Progress on near-term interventions and longer-term transformation. Examples of innovations like Ferry Skip the Soak, Mr. Clean innovations, Germany Pantene social media investments. Leveraging large brands, innovation capabilities, supply chain 3.0, and connecting R&D, supply chain, and procurement.
Guidance
Maintaining fiscal 26 guidance ranges. Organic sales growth in line to 4%. Core EPS growth in line to 4%. Headwind from Middle East conflict. Expect full-year EPS toward lower end of guidance range. Forecast adjusted free cash flow productivity 85-90%. Plan to return ~$15B to share owners. Won't provide fiscal 27 guidance until July call.
Segment performance
Organic sales increased more than 3% versus prior year. Volume increased two points, pricing was up a point, and mix was flat. Skin and personal care grew high single digits. Hair care, family care, and home care grew mid-singles. Personal health care, oral care, fabric care, baby care, feminine care, and grooming each grew low single digits. Growth was broad-based geographically with each of seven regions growing organic sales. North America grew 4%, Europe 2%, Greater China 3%, Latin America 5%, Asia Pacific, Middle East, Africa enterprise region 4%. Global aggregate market share improved. Core earnings per share came in at $1.59, up 3% versus prior year. Core growth margin down 100 basis points, cooperating margin down 80 basis points. Adjusted free cash flow productivity 82%, returned $3.2 billion to share owners.
Risks & headwinds
Geopolitical dynamics causing cost headwinds, supply chain disruptions, inflation affecting consumer value assessment, media fragmentation, retail landscape changes.
Analyst Q&A
Q: Assessment of underlying progress on organic growth and confidence into Q4 and 27,
A: Confidence in growth progress, examples like Tide Liquid, SK2, strong brand-country combinations.
Q: Supply chain advantage post Iran conflict, outperformance vs competitors,
A: Supply chains resilient, confident in outperformance.
Q: China market performance, beauty market in China,
A: China up 3%, SK2 up 18%, baby care up 19%, maturing strategy.
Q: Earnings growth path next year despite headwinds,
A: Work in progress on macro, productivity, P&L, won't compromise investment in momentum.
Q: Incremental investments in country product combinations,
A: Areas with opportunities like baby care in US, beauty care, FabricCare.
Q: Pricing power, competitive activity,
A: Pricing power earned through innovation, competitive activity too early to assess.
Q: Volume impact, restructuring program,
A: Volume pull forward, restructuring on track.
Q: Gross margin, base case,
A: Don't know, but focus on activity system driving growth.
Q: Enterprise market impact, demand from Middle East conflict,
A: Middle East impact minimal, Southeast Asia upstream supply chain exposed.
Q: Baby care turnaround, market share vs end market growth,
A: Baby care growing share, focus on US, execution of playbook.
Q: Cost impact components, tariff refunds,
A: Cost impact broader than commodity, following tariff refund process.
Q: Volume lift staying power, reinvestment level,
A: Staying power strong, reinvestment different by business, country, etc.
Q: Fourth quarter organic sales, consumer pull forward,
A: Q4 growth rate lower, no visible consumer pull forward.
Q: Supply chain 3.0 advantage, AI,
A: Supply chain 3.0 applies technology, scaling across categories.
Q: Inflation mitigation, spending on momentum businesses,
A: Control destiny through productivity, innovation, invest in momentum businesses