Q4 26 EPS
$1.43
BEAT +1.63%
Est. $1.41
Q4 26 Revenue
$21.20B
MISS 0.82%
Est. $21.38B
vs S&P Since Q4 26
-8.0%
TRAILING MARKET
PG -2.0% vs S&P +6.0%
Full Year 2026 Results
FY 26 EPS
$6.89
BEAT +0.11%
Est. $6.88
FY 26 Revenue
$87.03B
MISS 0.07%
Est. $87.10B
Market Reaction
Did PG Beat Earnings? Q4 2026 Results
Procter & Gamble delivered a mixed but ultimately earnings-positive quarter in Q4 fiscal 2026, notching its fifth consecutive EPS beat even as revenue fell short of expectations. Core EPS of $1.43 edged past the $1.41 consensus by 1.63%, while net sa… Read more Procter & Gamble delivered a mixed but ultimately earnings-positive quarter in Q4 fiscal 2026, notching its fifth consecutive EPS beat even as revenue fell short of expectations. Core EPS of $1.43 edged past the $1.41 consensus by 1.63%, while net sales of $21.20 billion rose 1.5% year over year but came in $180 million below the $21.38 billion analysts had anticipated. The shortfall on the top line reflected flat organic sales growth, with volume, pricing, and mix each contributing nothing to the result, a sign that P&G's pricing power remains constrained in the current environment. The bottom line held up despite meaningful cost pressure, as a 160 basis point surge in SG&A, driven by heavy marketing reinvestment, weighed on margins alongside a 60 basis point gross margin contraction. Looking ahead, the company guided fiscal 2027 organic sales growth of 1-3% and core EPS of in-line to up 3% versus $6.89, with roughly $1.00 billion in commodity and cost headwinds representing an 8% drag on earnings growth.
Key Takeaways
- • Beauty segment led organic growth at 4%, driven by Hair Care and Personal Care volume growth
- • Gross productivity savings of 460 basis points in Q4
- • Favorable foreign exchange contributed 1% to net sales growth
- • Heavy marketing reinvestment of 410 basis points in SG&A
- • Unfavorable product mix of 120 basis points weighed on core gross margin
- • Family Care organic sales declined mid-single digits from volume decline and merchandising investments
- • Net tariff benefit of 40 basis points from recognized recoveries offset by higher costs
PG Forward Guidance & Outlook
For fiscal year 2027, P&G expects all-in sales growth of 1-3% and organic sales growth of 1-3% (including a 30-50 basis point headwind from brand/product form/go-to-market discontinuations). Diluted EPS growth is expected in the range of 1-5% versus fiscal 2026 GAAP EPS of $6.62. Core EPS growth is expected in the range of in-line to 3% versus fiscal 2026 core EPS of $6.89, with a midpoint estimate of $7.00 per share. The company estimates after-tax headwinds of approximately $1 billion from higher raw materials, energy, and transportation costs, $150 million from higher net interest expense, $150 million from lower non-operating income, and $50 million from unfavorable foreign exchange, totaling $0.56 per share or an 8% drag on core EPS growth. Core effective tax rate is expected at approximately 20%. Capital spending is estimated at 4.5-5.5% of net sales. Adjusted free cash flow productivity is expected at 85-90%. The company plans approximately $10 billion in dividends and $5 billion in share repurchases.
PG YoY Financials
Q4 2026 vs Q4 2025, source: SEC Filings
PG Revenue by Segment
With YoY comparisons, source: SEC Filings
“Fiscal 2026 was a year of foundation building while continuing to grow sales and profit and return high levels of cash to shareowners despite a very challenging geopolitical and economic environment.”
— Shailesh Jejurikar, Q4 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
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 26 BEAT FY | $1.41 | $1.43 | +1.63% | $21.20B | -0.82% |
| FY Full Year | $6.88 | $6.89 | +0.11% | $87.03B | -0.07% |
| 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% |