Procter & Gamble Company (The) (PG) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to Procter & Gamble's quarter-end conference call. Today's event is being recorded for replay. This discussion will include a number of forward-looking statements. If you will refer to P&G's most recent 10-K, 10-Q, and 8-K reports, you will see a discussion of factors that could cause the company's actual results to differ materially from these projections. As required by Regulation G, Procter & Gamble needs to make you aware that during the discussion, the company will make a number of references to non-GAAP and other financial measures. Procter & Gamble believes these measures provide investors with useful perspective on underlying business trends and has posted on its investor relations website www.pginvestor.com a full reconciliation of non-GAAP financial measures. Now I will turn the call over to P&G's Chief Financial Officer, Andre Scholten. Good morning, everyone. Joining me on the call today is Shailesh Chajurica, Chief Executive Officer, and John Chevalier, Senior Vice President, Investor Relations. I will start with an overview of results for the second quarter of fiscal 26, and Shailesh will discuss strategy, innovation, and focus areas as we start calendar year 2026. I'll close with guidance for fiscal 26, and then we'll take your questions. As we expected, second quarter top line results heavily reflect underlying market trends and impacts from base period dynamics. As a reminder, the base period included trade and consumer pantry loading driven by port strikes and hurricanes in early October and the fear of additional port strikes in late December. The biggest impacts were on the baby, feminine, and family care sector and the fabric and home care sector. These base period impacts were concentrated in the U.S. market The balance ...