Overview

• Consumer goods maker's fiscal Q3 net sales rose 7%, beating analyst expectations

• Core EPS increased 3%, beating analyst expectations

• Company maintained full-year sales and EPS guidance

Outlook

• P&G maintains fiscal 2026 all-in sales growth guidance of 1% to 5%

• Company expects fiscal 2026 diluted EPS growth of 1% to 6%, core EPS $6.83-$7.09

• Company now expects fiscal 2026 EPS results toward lower end of guidance range

Result Drivers

• VOLUME AND PRICING - Organic sales rose 3%, driven by a 2% increase from volume and 1% from higher pricing, with mix neutral for the quarter

• CATEGORY AND REGIONAL GROWTH - Broad-based growth across product categories and regions, with Beauty segment organic sales up 7% on volume and innovation-based pricing

• MARGIN PRESSURE - Gross margin declined by 150 bps due to unfavorable mix, reinvestments, higher tariff and commodity costs, partially offset by productivity savings and increased pricing

Company press release: ID:nBwcccdW0a

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q3 Sales	Beat	$21.20 bln	$20.50 bln (14 Analysts)
Q3 Adjusted EPS	Beat	$1.59	$1.56 (17 Analysts)
Q3 EPS		$1.63

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 15 "strong buy" or "buy", 11 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the personal products peer group is "buy"

• Wall Street's median 12-month price target for Procter & Gamble Co is $166.00, about 13.9% above its April 23 closing price of $145.71

• The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 20 three months ago

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