Procter & Gamble Company (the) · NYSE:PG
Procter & Gamble Company (the) — Q3 2026 Earnings Presentation
27 slides from Procter & Gamble Company (the)'s earnings presentation, Apr 24, 2026
Slide 1: Earnings Release Q3 FY 2026 Results
EARNINGS RELEASE Q3 FY 2026 Results April 24, 2026
Slide 2: Integrated Growth Strategy
INTEGRATED GROWTH STRATEGY PORTFOLIO PERFORMANCE DRIVES BRAND CHOICE SUPERIORITY ORGANIZATION TO WIN WITH CONSUMERS EMPOWERED • AGILE ACCOUNTABLE CONSTRUCTIVE DISRUPTION ACROSS OUR BUSINESS PRODUCTIVITY TO FUEL INVESTMENTS
Slide 3: Business Results
(rec BUSINESS RESULTS BIGONE Q3 FY 2026 my Sen
Slide 4: Q3 FY 2026 Results
Q3 FY 2026 RESULTS Third quarter showed sequential and broad-based improvement despite an increasingly challenging macro environment. Organic sales grew 3% vs prior year. Volume +2%, Pricing +1%. 10 of 10 product categories and 7 of 7 regions grew organic sales for the quarter. Global aggregate valu
Slide 5: Q3 FY 2026 Results
Q3 FY 2026 RESULTS Q3 FY ’26 Organic Sales Growth +3% Organic Volume Growth +2% Core EPS Growth +3% Currency Neutral Core EPS Growth +0% Adjusted Free Cash Flow Productivity 82%
Slide 6: Organic Sales Growth
Q3 FY 2026 RESULTS Organic Sales Growth • Organic volume grew +2 points. • Pricing contributed 1 point to organic sales growth. • Mix was neutral. 3% 3% 2% 2% 2% 1% 0% Q1 FY '25 Q2 FY '25 Q3 FY '25 Q4 FY '25 Q1 FY '26 Q2 0% FY '26 Q3 FY '26
Slide 7: Core Earnings-Per-Share Growth
Q3 FY 2026 RESULTS Core Earnings-Per-Share Growth • Core gross margin -100 basis points • Core operating margin -80 basis points • Total productivity savings +330 basis points 6% 5% 3% 3% 1% 2% 0% Q1 FY '25 Q2 FY '25 Q3 FY '25 Q4 FY '25 Q1 FY '26 Q2 FY '26 Q3 FY '25
Slide 8: Currency-Neutral Core EPS Growth
Q3 FY 2026 RESULTS Currency-Neutral Core EPS Growth • Core Gross margin ex-FX -100 basis points • Core Operating margin ex-FX -70 basis points 5% 4% 3% 3% 3% 0% -2% Q1 FY '25 Q2 FY '25 Q3 FY '25 Q4 FY '25 Q1 FY '26 Q2 FY '26 Q3 FY '26
Slide 9: Global Market Shares
GLOBAL MARKET SHARES TOP 50 Category/ Country Combinations 38 33 32 30 31 28 29 26 23 23 # Grew/Held Value Share Global share data through Feb 2026, US through Mar 2026
Slide 10: Segment Results
(rec SEGMENT RESULTS BIGONE Q3 FY 2026 a BDA
Slide 11: Beauty Segment
Q3 FY 2026 RESULTS Beauty Segment Organic Sales Organic Volume Net Earnings 7% 7% 5% • Topline: +5% volume, +1% pricing, +1% mix • Share: Global Skin Care value share decreased 0.8 points, Global Hair Care value share decreased 0.5 points. Global Personal Care value share was unchanged versus year a
Slide 12: Grooming Segment
Q3 FY 2026 RESULTS Grooming Segment Organic Sales Organic Volume Net Earnings 3% 1% -2% • Topline: +3% pricing, flat mix, -2% volume • Share: Global Grooming value share decreased 0.4 points versus year ago. • Net Earnings: Sales growth, productivity savings and pricing partially offset by unfavorab
Slide 13: Health Care Segment
Q3 FY 2026 RESULTS Health Care Segment Organic Sales Organic Volume Net Earnings 2% 2% -2% • Topline: +2% pricing, +2% mix, -2% volume • Share: Global Oral Care value share increased 0.3 points and Global Personal Health Care value share increased 0.5 points versus year ago. • Net Earnings: Sales gr
Slide 14: Fabric & Home Care Segment
Q3 FY 2026 RESULTS Fabric & Home Care Segment Organic Sales Organic Volume Net Earnings 3% 2% 1% • Topline: +2% volume, +1% pricing, flat mix • Share: Global Fabric Care value share decreased 0.2 points and Global Home Care value share increased 0.3 points versus year ago. • Net Earnings: Sales grow
Slide 15: Baby, Feminine and Family Care Segment
Q3 FY 2026 RESULTS Baby, Feminine and Family Care Segment Organic Sales Organic Volume Net Earnings 11% 3% 3% • Topline: +3% volume, flat pricing/mix • Share: Global Baby Care value share increased 0.2 points, Global Feminine Care value share decreased 0.2 points and Global Family Care share decreas
Slide 16: FY 2026 Guidance
(rec FY 2026 GUIDANCE
Slide 17: FY 2026 Guidance: Sales
• Organic Sales Growth: +0% to +4% • Net Sales Growth: +1% to +5% • Includes a 1% positive impact from foreign FY 2026 exchange and acquisitions and divestitures GUIDANCE SALES FY ‘26 Organic Sales Growth (Maintain) +0% to +4% Net Sales Growth (Maintain) +1% to +5%
Slide 18: FY 2026 Guidance: Earnings
• Core EPS Growth: +0% to +4% • Outlooking $0.15bn after-tax impact from commodities, etc. • Outlooking $0.4bn after-tax headwind from tariffs • Outlooking $0.2bn after-tax tailwind from foreign exchange • 1-point foreign exchange tailwind results in currency neutral core EPS growth of -1% to +3% FY
Slide 19: FY 2026 Guidance Summary
METRIC FY 2026 GUIDANCE Organic Sales Growth +0% to +4% Net Sales Growth +1% to +5% Core EPS Growth +0% to +4% FY 2026 All-In EPS Growth +1% to +6% GUIDANCE Currency Neutral Core EPS Growth -1% to +3% SUMMARY Core Effective Tax Rate 20% to 21% Adjusted Free Cash Flow Productivity 85% to 90% Capital
Slide 20: FY 2026 Guidance: Potential Headwinds Not Included
• Significant deceleration of market growth rates • Significant currency weakness FY 2026 • Significant commodity cost increases GUIDANCE POTENTIAL • Additional geopolitical disruptions HEADWINDS NOT INCLUDED • Major supply chain disruption or store closures IN GUIDANCE • Significant tariff changes
Slide 21: Slide 21
Slide 22: Forward Looking Statements
FORWARD LOOKING STATEMENTS Certain statements in this release other than purely historical information, including estimates, projections, statements relating to our business plans, objectives and expected operating results, and the assumptions upon which those statements are based, are "forward-look
Slide 23: Regulation FD and G Disclosure
REGULATION FD AND G DISCLOSURE For a full reconciliation, please visit: www.pginvestor.com
Slide 24: Regulation G Reconciliation of Non-GAAP Measures
The Procter & Gamble Company Regulation G Reconciliation of Non-GAAP Measures The following provides definitions of the non-GAAP measures used in Procter & Gamble's (“the Company”) April 24, 2026 earnings call, associated slides and other materials and the reconciliation to the most closely related
Slide 25: Core gross margin and core operating margin definitions
Core gross margin and currency-neutral Core gross margin: Core gross margin is a measure of the Company's gross margin adjusted for items as indicated. Currency-neutral Core gross margin is a measure of the Company's Core gross margin excluding the incremental current year impact of foreign exchange
Slide 26: Core EPS and Currency-neutral Core EPS
2. Core EPS and Currency-neutral Core EPS: Three Months Ended March 31 2026 2025 Diluted EPS $1.63 $1.54 Incremental restructuring 0.07 — Glad joint venture agreement (0.11) — Core EPS $1.59 $1.54 Percentage change vs. prior period Core EPS 3% Currency impact to earnings (0.05) Currency-Neutral Core
Slide 27: Core operating margin and Adjusted free cash flow
4. Core operating margin and Currency-neutral Core operating margin: Three Months Ended March 31 2026 2025 Operating Margin 21.5% 23.0% Incremental restructuring 0.7% — Core Operating Margin 22.2% 23.0% Basis point change vs. prior year Core operating margin (80) Currency Impact to Margin 0.1% Curre
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