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Q1 26 EPS
$1.99
BEAT +4.91%
Est. $1.90
Q1 26 Revenue
$22.39B
BEAT +0.98%
Est. $22.17B
vs S&P Since Q1 26
-11.6%
TRAILING MARKET
PG -1.6% vs S&P +10.0%
Market Reaction
Did PG Beat Earnings? Q1 2026 Results
Procter & Gamble opened its fiscal year on solid footing, posting fiscal Q1 2026 results that cleared Wall Street's bar on both revenue and earnings. Core EPS of $1.99 came in 4.91% above the $1.90 consensus estimate, while net sales of $22.39 billio… Read more Procter & Gamble opened its fiscal year on solid footing, posting fiscal Q1 2026 results that cleared Wall Street's bar on both revenue and earnings. Core EPS of $1.99 came in 4.91% above the $1.90 consensus estimate, while net sales of $22.39 billion edged past expectations by 0.98% and rose 3% year-over-year, with organic sales advancing 2% on a blend of 1% pricing gains and 1% favorable mix. The Beauty segment was the clearest engine of upside, delivering 6% organic growth led by Personal Care innovation and premium Skin Care mix, a reminder that P&G's bet on product quality over discounting continues to generate returns even as rivals lean on aggressive promotions. Gross margin faced modest pressure from tariff and commodity costs, though SG&A discipline helped keep core operating margin steady. Management held its full fiscal 2026 guidance intact, targeting core EPS of $6.83–$7.09 per share and organic sales growth of up to 4%, even as the company absorbs roughly $400 million in after-tax tariff headwinds this year.
Key Takeaways
- • Organic sales growth of 2% driven by 1% higher pricing and 1% favorable mix
- • Beauty segment organic sales grew 6%, led by high-single-digit Personal Care growth
- • Grooming organic sales grew 3% behind innovation-driven pricing
- • Gross productivity savings of 230 basis points at core operating margin level
- • SG&A productivity savings of 90 basis points
- • GAAP EPS increase of 21% driven by lower restructuring charges versus prior year Argentina liquidation
PG YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
PG Revenue by Segment
With YoY comparisons, source: SEC Filings
“Our organic sales growth, earnings and cash results in the first quarter reflect strong execution of our integrated strategy. 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.”
— Jon Moeller, Q1 2026 Earnings Press Release
PG Earnings Trends
PG vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
PG EPS Trend
Earnings per share: estimate vs actual
PG Revenue Trend
Quarterly revenue: estimate vs actual
PG Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q3 26 BEAT | $1.56 | $1.59 | +2.24% | $21.24B | +3.50% |
| Q2 26 BEAT | $1.86 | $1.88 | +1.24% | $22.21B | -0.37% |
| Q1 26 BEAT | $1.90 | $1.99 | +4.91% | $22.39B | +0.98% |
| Q4 25 BEAT FY | $1.42 | $1.48 | +4.14% | $20.89B | +0.22% |
| FY Full Year | $6.78 | $6.51 | -3.95% | $84.28B | +0.09% |
| Q3 25 BEAT | $1.53 | $1.54 | +0.93% | $19.78B | -1.87% |