Procter & Gamble finished fiscal 2026 with organic sales up 1% from the prior year, after volume came in flat and pricing added 1 point. Core earnings per share rose 1% to $6.89, while currency-neutral core EPS was unchanged year over year at $6.80.
The company said 9 of its 10 product categories and all 7 regions either held or grew organic sales in the year. Of its top 50 category-country combinations, 26 held or grew share, down from 29 in fiscal 2025 and 31 in fiscal 2024. Global aggregate value share was slightly lower than a year earlier.
Cash generation remained strong: adjusted free cash flow productivity reached 100% in fiscal 2026. P&G returned $15.2 billion to shareholders, including $10.2 billion in share repurchases and $5.0 billion in dividends.
Fourth-quarter fiscal 2026 was softer. Organic sales were flat, with volume flat and pricing flat. Core EPS fell 3% from the year-ago quarter, and currency-neutral core EPS declined 5%.
By segment in the fourth quarter, beauty posted the strongest top-line growth, with organic sales up 4% and volume up 3%, though net earnings fell 19%. Grooming had flat organic sales and a 15% drop in net earnings. Health care reported organic sales down 1% and net earnings down 10%. Fabric and home care had flat organic sales and a 10% decline in net earnings. Baby, feminine and family care saw organic sales fall 2% and net earnings drop 13%.
For fiscal 2027, P&G is guiding to organic sales growth of 1% to 3% and net sales growth of 1% to 3%. Core EPS is expected to rise 0% to 3%, with all-in EPS projected to increase 1% to 5%. The company also expects adjusted free cash flow productivity of 85% to 90% and capital spending at 4.5% to 5.5% of sales. Following these announcements, the company's shares moved -2.85%, and are now trading at a price of $144.64. Check out the company's full 8-K submission here.
