P&G Announces Results for the First Quarter of Fiscal Year 2026

Today P&G reported results for the first quarter of fiscal 2026. First quarter results reflect strong execution of our integrated strategy in a difficult geopolitical, competitive and consumer landscape. This marks 40 consecutive quarters of organic sales growth and keeps us on track for our tenth consecutive fiscal year of Core EPS growth.

Read our press release here.

“Our organic sales growth, earnings and cash results in the first quarter reflect strong execution of our integrated strategy” said Jon Moeller, Chairman of the Board, President and Chief Executive Officer. “These results keep us on track to deliver within our guidance ranges on all key financial metrics for the fiscal year in a challenging consumer and geopolitical environment. We remain committed to our integrated growth strategy of a focused product portfolio of daily use categories where performance drives brand choice, superiority — across product performance, packaging, brand communication, retail execution and consumer and customer value — productivity, constructive disruption and an agile and accountable organization. We are increasing investment in innovation and demand creation to improve value for consumers and drive category growth.”

For the quarter:

• Organic sales up 2%; net sales up 3% (volume in-line, mix +1%, pricing +1%).
• Growth was broad-based across categories with 8 of 10 product categories growing or holding organic sales for the quarter.
• Six out of 7 regions held or grew organic sales. Organic sales in Focus markets grew more than 1%, and Enterprise markets also grew more than 1% for the quarter.
• Core earnings per share were up 3% versus the prior year. On a currency neutral basis, core EPS also increased 3%.
• Adjusted free cash flow productivity was 102%, a very strong Q1 result.

In summary, a solid quarter to start the year in what continues to be a challenging environment, including heightened competitive activity in the U.S. and Europe.

We remain committed to the integrated growth strategy that has enabled strong results, and that is the foundation for balanced growth and value creation.

• A focused portfolio of products in daily use categories where performance drives brand choice.
• Irresistible superiority across the five vectors of product, package, brand communication, retail execution and value — to delight consumers and grow markets.
• Productivity improvement in all areas of our operations to fund investments in innovation, brand building and market growth, to mitigate cost and currency challenges, and to expand margins and generate cash.
• Constructive disruption of ourselves and our industry — a willingness to change, adapt and create new trends, technologies and capabilities that will shape the future of our industry.
• An empowered, agile and accountable organization that is inclusive and diverse — enabling us to better serve an increasingly diverse set of consumers.

For a deeper dive into the results announced today read our press release. Slides and the webcast replay of earnings results are available at www.pginvestor.com/event.