Procter & Gamble

Multinational consumer goods corporation headquartered in Cincinnati, Ohio.

Company Type

public

Founded

1837

Headquarters

Cincinnati, Ohio, USA

Stock

NYSE: PG

About Procter & Gamble

Procter & Gamble delivered mixed financial results in fiscal 2026, reflecting both the strength of its business model and challenges in the current consumer environment. In Q2 2026, P&G reported adjusted earnings per share of $1.88, exceeding Wall Street expectations of $1.86, while revenue of $22.21 billion fell slightly short of analyst expectations of $22.28 billion. The company's ability to beat earnings estimates despite revenue challenges demonstrates the effectiveness of its productivity initiatives and cost management strategies.

Financial Performance Overview shows P&G's resilience in a challenging market. The company revised its fiscal 2026 earnings outlook to 1% to 6% net earnings per share growth, down from the previous forecast of 3% to 9%, citing higher restructuring charges. Despite this adjustment, P&G maintained its sales growth guidance, reflecting confidence in its business fundamentals and strategic positioning. CFO Andre Schulten noted that "We've now completed what we fully expect will be the softest quarter of the fiscal year," indicating anticipation of improved performance in the second half.

Volume Performance revealed significant challenges across key categories, with overall volume falling 1% as three out of five product categories reported shrinking volume. This decline reflects broader consumer behavior patterns as inflation-weary consumers hunt for deals and reduce discretionary spending, particularly in P&G's largest market, the United States. Despite these challenges, Schulten emphasized that "People have not stopped washing their hair, they still buy diapers, they do their laundry — albeit at a little bit slower pace, so the market growth has certainly slowed over the last 18 to 24 months."

Segment Performance showed divergent trends across P&G's business portfolio. The baby, feminine and family care segment experienced the steepest decline with volume falling 5% in Q2 2026, facing tough comparisons with the year-ago period when retailers and consumers stocked up ahead of expected port strikes. The grooming business, which includes Gillette and Venus razors, reported a 2% volume drop, reflecting ongoing competitive pressures in the men's grooming market. The health-care segment saw volume fall 1%, including brands like Oral-B, Vicks, and Pepto-Bismol.

Bright Spots in Performance were primarily in the beauty segment, which was the only division to report volume growth, rising 3% fueled by stronger demand for hair-care products. The fabric and home-care business, which includes brands like Febreze and Tide, reported unchanged volume, demonstrating stability in P&G's largest business segment by revenue. These performance variations highlight the importance of P&G's diversified portfolio strategy in navigating market challenges.

Q1 2026 Results demonstrated stronger performance compared to Q2, with net sales of $22.4 billion, up 3% versus the prior year, and organic sales increasing 2%. The company achieved diluted EPS of $1.95 (up 21% YoY) and core EPS of $1.99 (up 3% YoY), reflecting strong operational execution. Operating cash flow was $5.4 billion, and the company returned $3.8 billion to shareholders through dividend payments and share repurchases, demonstrating P&G's commitment to shareholder returns.

Consumer Market Dynamics continue to shape P&G's performance, with the company facing "softer consumer markets, aggressive competition, and a dynamic geopolitical landscape" according to CFO Schulten. These challenges reflect broader economic pressures affecting consumer spending patterns and competitive intensity in key categories. However, P&G expects stronger results in the second half of the fiscal year, fueled by upcoming innovation and improved market conditions.

Innovation and Demand Creation remain central to P&G's strategy for driving growth. The company is increasing investment in innovation and demand creation to improve value for consumers and drive category growth. This focus on innovation is particularly important in the beauty segment, where new product development and marketing initiatives have helped drive volume growth despite overall market challenges.

Leadership Transition Impact represents a significant element of P&&G's current strategy. Shailesh Jejurikar's appointment as CEO effective January 1, 2026, brings fresh perspectives while maintaining continuity through Jon Moeller's transition to Executive Chairman. The leadership change coincides with P&G's plans to "reinvent" itself under new leadership, with executives indicating that the annual CAGNY Conference will include more details on the company's strategic direction.

Geographic Performance varied across P&G's global markets, with the United States facing particular challenges due to consumer behavior changes and competitive pressures. However, the company's global diversification provides stability, with different regions experiencing varying levels of economic pressure and consumer demand patterns.

Supply Chain and Operations have been optimized to support P&G's productivity initiatives and cost management strategies. The company's integrated supply chain encompasses suppliers, manufacturing partners, and retailers in complex networks ensuring product availability worldwide while maintaining operational efficiency.

Future Outlook remains cautiously optimistic, with P&G maintaining its fiscal year 2026 guidance for sales growth between 1% and 5%. The company expects stronger results in the second half of the fiscal year, which would enable it to maintain its guidance ranges on all key financial metrics. This confidence reflects the strength of P&G's business model, brand portfolio, and strategic initiatives.

Investor Confidence remained strong despite mixed results, with P&G shares rising more than 2% in morning trading following the Q2 earnings announcement. This positive market response reflects investor confidence in P&G's ability to navigate current challenges while positioning for future growth through strategic initiatives and operational excellence.

P&G's recent performance demonstrates the company's ability to maintain profitability and shareholder returns while navigating challenging market conditions. The combination of operational efficiency, brand strength, and strategic focus on innovation provides a solid foundation for continued success in the competitive consumer goods industry.

History of Procter & Gamble

Procter & Gamble was founded on October 31, 1837, by William Procter and James Gamble in Cincinnati, Ohio, creating one of America's most enduring business partnerships. The two founders, a candlemaker from England and a soapmaker from Ireland, combined their expertise to manufacture candles and soap from rendered animal fat (tallow), products that were in high demand during the 19th century. Their complementary skills and shared commitment to quality laid the foundation for what would become one of the world's most successful consumer goods companies.

The company established a strong reputation for quality products and innovative business practices from its earliest days. In 1879, P&G introduced Ivory soap, its first major branded product, which became a bestseller and established the company as a pioneering consumer goods manufacturer. Ivory's floating soap and pure white appearance represented a significant innovation in personal hygiene products and demonstrated P&G's ability to create differentiated products that met consumer needs.

Throughout the 20th century, P&G expanded aggressively through both organic growth and strategic acquisitions, establishing itself as a leader in consumer goods innovation. The company pioneered television advertising, becoming one of the first companies to recognize the potential of this new medium for mass marketing. P&G also developed brand management concepts that would become industry standards, creating systematic approaches to building and maintaining consumer brands that would influence marketing practices globally.

Significant acquisitions in the mid-20th century expanded P&G's product portfolio and market presence. The company acquired Crest toothpaste in 1956, entering the oral care market and establishing P&G as a leader in dental health products. Charmin toilet paper was acquired in 1957, extending P&G's presence in the paper products category. These acquisitions demonstrated P&G's strategy of entering new categories with strong brand potential and market leadership opportunities.

The 2005 acquisition of Gillette represented one of P&G's most significant strategic moves, bringing the world's leading men's grooming company into P&G's portfolio. This $57 billion acquisition added iconic brands like Gillette razors and Venus to P&G's already strong lineup of consumer brands, significantly strengthening the company's position in the grooming category and expanding its global reach.

P&G's evolution from a soap manufacturer to a diversified consumer goods corporation reflects its strategic adaptability and commitment to growth. The company now operates across five main segments: beauty, grooming, health care, fabric and home care, and baby, feminine, and family care, serving virtually every aspect of daily consumer life. This diversification strategy has provided stability and growth opportunities across different economic cycles and consumer preferences.

Recent Strategic Evolution under CEO Jon Moeller focused on portfolio optimization and operational excellence. The company implemented its "integrated growth strategy" emphasizing a focused product portfolio of daily use categories where performance drives brand choice. This strategy prioritized superiority across product performance, packaging, brand communication, retail execution, and consumer value, while driving productivity improvements and organizational agility.

Leadership Transition in 2025 marked another significant chapter in P&G's history. The company named Chief Operating Officer Shailesh Jejurikar to succeed Jon Moeller as President and CEO effective January 1, 2026. Moeller will become Executive Chairman, leading the Board of Directors while providing advice and counsel to the CEO. Jejurikar, who joined P&G in 1989, has been instrumental in developing the company's renewed strategies and operational results across multiple businesses and regions.

Innovation Legacy has been central to P&G's success throughout its history. From the introduction of Ivory soap to the development of Tide laundry detergent, P&G has consistently pioneered product innovations that address consumer needs and create new market opportunities. The company's research and development capabilities have produced breakthrough technologies in areas like fabric cleaning, oral care, and personal grooming, establishing P&G as a leader in consumer product innovation.

Brand Building Expertise has been another cornerstone of P&G's success. The company has developed some of the world's most valuable consumer brands, including Tide, Pampers, Crest, Gillette, and Olay. P&G's approach to brand management emphasizes consistent quality, effective communication, and deep consumer understanding, creating lasting brand equity that spans generations and geographic markets.

Global Expansion has been a key driver of P&G's growth, transforming the company from a Cincinnati-based manufacturer into a global consumer goods powerhouse. P&G now operates in approximately 70 countries worldwide, serving consumers across diverse cultural and economic environments. This global footprint provides scale advantages while requiring sophisticated management of local market preferences and regulatory environments.

Sustainability Commitment has become increasingly important to P&G's strategy in recent years. The company has implemented comprehensive sustainability initiatives addressing environmental impact, social responsibility, and ethical business practices. P&G's sustainability efforts include reducing environmental footprint, improving supply chain sustainability, and enhancing social impact programs in communities worldwide.

Digital Transformation represents P&G's adaptation to changing consumer behavior and technological advances. The company has invested heavily in digital capabilities, including e-commerce platforms, digital marketing, and data analytics, to better serve modern consumers and optimize operations. This digital focus has become particularly important as consumer shopping patterns shift toward online channels.

Recent Challenges have tested P&G's resilience, including changing consumer preferences, competitive pressures, and economic uncertainties affecting consumer spending. The company's response to these challenges has demonstrated the strength of its business model and the effectiveness of its strategic initiatives. P&G's ability to maintain profitability and market leadership while navigating these challenges reflects the company's operational excellence and strategic focus.

As P&G approaches its 190th anniversary, the company continues to balance its heritage of innovation and quality with the need to adapt to changing market conditions and consumer preferences. The leadership transition to Shailesh Jejurikar represents the next phase of this evolution, with plans to "reinvent" the company while building on its strong foundation of trusted brands and operational excellence.

P&G's history demonstrates the importance of strategic vision, operational excellence, and consumer focus in building enduring business success. The company's ability to evolve while maintaining its core values and commitment to quality has enabled it to remain a leader in the consumer goods industry for nearly two centuries.

Brands Owned by Procter & Gamble

View all 26 brands

Procter & Gamble owns 26 brands in our database. Showing featured brands below.

Always

Owned by Procter & Gamble

American feminine hygiene brand known for its menstrual pads, panty liners, and feminine care products.

feminine-hygienemenstrual-padspanty-liners

Bounty

Owned by Procter & Gamble

American brand of paper towels known for their absorbency and durability, marketed as "the quicker picker-upper."

paper-towelsabsorbenthousehold

Camay

Owned by Procter & Gamble

American soap brand known for its moisturizing properties, floral scents, and gentle cleansing formulations.

moisturizing-soapfloral-soapbeauty-soap

Cascade

Owned by Procter & Gamble

American dishwashing detergent brand known for its powerful cleaning action and automatic dishwasher formulations.

dishwashing-detergentdishwasher-detergentautomatic-dishwasher

Charmin

Owned by Procter & Gamble

American brand of toilet paper known for its softness and absorbency, featuring the iconic "Charmin bears" in advertising.

toilet-paperbathroomhousehold

Cheer

Owned by Procter & Gamble

American laundry detergent brand known for its color-safe formula and brightening capabilities for colored clothing.

laundry-detergentcolor-safebrightening

View all 26 brands owned by Procter & Gamble

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Always on Amazon

Bounty on Amazon

Camay on Amazon

Stock Information

Procter & Gamble Ownership: Pros & Cons

Advantages

+Independent, publicly traded status ensures corporate governance and transparency with NYSE listing under PG
+Exceptional Q2 2026 earnings performance of $1.88 adjusted EPS exceeding Wall Street expectations of $1.86
+Strong Q1 2026 results with $22.4B revenue (up 3% YoY) and $1.95 diluted EPS (up 21% YoY)
+Exceptional brand portfolio with category leadership positions across multiple consumer segments
+Diversified business model across beauty, grooming, health care, fabric & home care, and baby & family care reduces market risk
+Extensive global distribution network reaching consumers in 70+ countries worldwide
+Strong cash generation with $5.4B operating cash flow in Q1 2026 supporting shareholder returns
+Leadership transition with deep institutional knowledge through Jejurikar's promotion from COO to CEO
+Strong innovation capabilities and R&D investment driving product superiority across categories
+Beauty segment volume growth of 3% in Q2 2026 demonstrating successful innovation and marketing
+Robust shareholder return program with $3.8B returned to shareholders in Q1 2026
+Strong balance sheet and financial flexibility supporting strategic investments and acquisitions

Considerations

-Q2 2026 revenue miss with $22.21B falling short of $22.28B analyst expectations
-Volume declines in key categories with overall volume down 1% and three of five segments shrinking
-Baby, feminine & family care segment steepest decline with 5% volume drop in Q2 2026
-Grooming business volume decline of 2% reflecting competitive pressures in men's grooming market
-Health care segment volume decline of 1% affecting oral care and over-the-counter medications
-Revised fiscal 2026 earnings outlook reduced to 1-6% EPS growth from previous 3-9% guidance
-Mature markets limiting growth opportunities in developed countries like the United States
-Competition from private label and store brands affecting market share across categories
-Commodity price volatility impacting raw material costs and profitability margins
-Consumer behavior changes with inflation-weary shoppers hunting for deals and reducing discretionary spending
-Environmental impacts associated with manufacturing and packaging sustainability requiring significant investment
-Geopolitical landscape affecting international operations and supply chain logistics
-Need for continuous innovation and brand investment to maintain category leadership positions

Frequently Asked Questions About Procter & Gamble

Is Procter & Gamble publicly traded?

Yes, Procter & Gamble is publicly traded on the New York Stock Exchange under the ticker symbol PG. The company has been publicly traded since 1890, providing liquidity for shareholders and enabling broad institutional ownership. P&G is one of the world's most valuable consumer goods companies by market capitalization.

Who is P&G's new CEO?

Shailesh Jejurikar will succeed Jon Moeller as President and CEO of Procter & Gamble effective January 1, 2026. Jejurikar currently serves as Chief Operating Officer and has been with P&G since 1989, holding various senior leadership roles across multiple businesses and regions. Moeller will become Executive Chairman, leading the Board while providing counsel to the CEO.

What were P&G's Q2 2026 financial results?

P&G reported Q2 2026 adjusted earnings per share of $1.88, beating expectations of $1.86. Revenue was $22.21 billion, slightly below expectations of $22.28 billion. The company revised its fiscal 2026 earnings outlook to 1% to 6% net earnings per share growth, down from 3% to 9% previously, citing higher restructuring charges.

What were P&G's Q1 2026 financial results?

P&G reported strong Q1 2026 results with net sales of $22.4 billion, up 3% versus the prior year, and organic sales increasing 2%. The company achieved diluted EPS of $1.95 (up 21% YoY) and core EPS of $1.99 (up 3% YoY). Operating cash flow was $5.4 billion, and the company returned $3.8 billion to shareholders through dividend payments and share repurchases.

How is P&G performing across its business segments?

P&G's performance varies across segments. The beauty segment was the only division to report volume growth, rising 3% in Q2 2026. Fabric and home care reported unchanged volume. However, baby, feminine and family care saw a 5% volume decline, grooming fell 2%, and health care declined 1%. The fabric and home care segment remains P&G's largest by revenue.

What is P&G's fiscal 2026 outlook?

P&G expects sales growth between 1% and 5% for fiscal 2026 and net earnings per share growth of 1% to 6%, down from the previous forecast of 3% to 9%. The company expects stronger results in the second half of the fiscal year, fueled by upcoming innovation and improved market conditions.

When was Procter & Gamble founded?

Procter & Gamble was founded on October 31, 1837, by William Procter and James Gamble in Cincinnati, Ohio, making it one of the world's oldest continuously operating companies with over 185 years of history. The company started as a candle and soap manufacturer and evolved into a global consumer goods powerhouse.

How many brands does Procter & Gamble own?

P&G owns over 65 brands globally, with numerous products achieving category leadership positions. The company's brand portfolio spans multiple consumer categories including fabric care (Tide, Ariel), beauty (Olay, Pantene), grooming (Gillette), health care (Crest, Vicks), baby care (Pampers), feminine care (Always), and pet care (Iams).

What is P&G's market position?

Procter & Gamble maintains dominant market positions in multiple consumer goods categories globally. The company is the world's largest consumer goods company by revenue and market capitalization, with leading brands in laundry detergents (Tide), baby care (Pampers), feminine care (Always), oral care (Crest), and grooming (Gillette).

What are P&G's key strategic initiatives?

P&G pursues several key strategic initiatives including an integrated growth strategy focused on daily use categories, superiority across product performance and consumer value, productivity through operational efficiency, constructive disruption through innovation, organizational agility, increased investment in innovation and demand creation, and sustainability initiatives.

How is P&G addressing current market challenges?

P&G is addressing current challenges through increased investment in innovation and demand creation, productivity initiatives to maintain margins, portfolio optimization to focus on high-growth categories, and strategic pricing to balance value with profitability. The company expects stronger performance in the second half of fiscal 2026.

What is P&G's approach to sustainability?

P&G has implemented comprehensive sustainability initiatives addressing environmental impact, social responsibility, and ethical business practices. The company's sustainability efforts include reducing environmental footprint, improving supply chain sustainability, enhancing social impact programs, and developing sustainable product formulations and packaging.

About Procter & Gamble

History of Procter & Gamble