Procter & Gamble reported first quarter fiscal year 2026 net sales increased 3% to $22.4 billion. Organic sales increased 2%. Diluted net earnings per share were $1.95, an increase of 21% versus the prior year primarily due to higher non-core restructuring charges in the prior year. Core earnings per share were $1.99, an increase of 3% versus the prior year.

“Our organic sales growth, earnings and cash results in the first quarter reflect strong execution of our integrated strategy,” said Chairman, President and CEO Jon Moeller. “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.”

Beauty, Grooming, Health Care and Fabric and Homecare Results

Beauty segment organic sales increased 6%. Haircare organic sales increased low single-digits driven by volume increases and innovation-driven pricing in North America and Europe, partially offset by unfavorable geographic and product mix. Personal care organic sales increased high single digits due to innovation-driven volume growth and pricing in North America, partially offset by negative impacts from geographic mix. Skincare organic sales increased mid-single digits due to favorable premium product mix and higher pricing primarily in North America, partially offset by volume declines.

Grooming segment organic sales increased 3% behind innovation-driven pricing, primarily in North America and Europe, and volume growth, partially offset by unfavorable product mix.

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Healthcare segment organic sales increased 1% versus year ago. Oral care organic sales were unchanged as product mix from premium innovation was offset by volume declines. Personal health care organic sales increased low single digits due to higher pricing, primarily in Latin America and North America, partially offset by volume declines.

Fabric and home care segment organic sales were unchanged versus year ago. Fabric care organic sales decreased low single digits driven by volume declines mainly in Europe. Home care organic sales increased low single digits driven by higher pricing, primarily in North America and Europe, partially offset by volume declines, primarily in Europe.

Fiscal Year 2026 Guidance

P&G maintained its guidance range for fiscal 2026 all-in sales growth to be in the range of 1-5% versus the prior year. The net impacts of foreign exchange rates and acquisitions and divestitures are expected to be a tailwind of approximately one percentage point to all-in sales growth. P&G maintained its outlook for organic sales growth in the range of in-line to up 4% versus the prior year.

P&G maintained its fiscal 2026 diluted net earnings per share growth to be in the range of 3% to 9% versus fiscal 2025 diluted net EPS of $6.51. P&G also maintained its fiscal 2026 core earnings per share growth to be in the range of in-line to up 4% versus fiscal 2025 core EPS of $6.83. This outlook equates to a range of $6.83 to $7.09 per share, with a mid-point estimate of $6.96, or an increase of 2%.