In this photo illustration, the Procter & Gamble logo is seen on a Pepto Bismol package on June 5, 2025 in San Anselmo, California.
Justin Sullivan | Getty Images
procter and gamble on Thursday reported mixed quarterly results as demand for Gillette razors and Pampers diapers declined.
The company also revised its revenue outlook for fiscal year 2026. P&G now expects net earnings per share growth to be in the range of 1% to 6%, down from its previous forecast of 3% to 9%. The company attributed this change to increased restructuring costs. The company reiterated its outlook for increased sales.
“We have completed what was fully expected to be our weakest quarter of the year,” Chief Financial Officer Andre Schulten said on a call with reporters Thursday.
The company’s shares fell about 1% in premarket trading.
Below is a comparison of what P&G reported and Wall Street’s expectations, based on analyst research by LSEG.
Earnings per share: $1.88 adjusted vs. $1.86 expected Revenue: $22.21 billion vs. $22.28 billion expected
P&G reported fiscal second quarter net income attributable to the company of $4.32 billion, or $1.78 per share, down from $4.63 billion, or $1.88 per share, in the year-ago period.
The company’s profit, excluding restructuring costs, was $1.88 per share.
Net sales increased 1% to $22.21 billion. Organic sales, excluding foreign currency, acquisitions and divestitures, were flat during the quarter.
Volumes decreased 1% as three of P&G’s five product categories reported lower volumes. This metric does not include pricing, so it more accurately reflects demand than sales. Like many consumer companies, P&G has seen demand for some of its products fall as inflation-weary consumers seek deals, especially in the United States, its largest market.
“People haven’t stopped washing their hair, they’re still buying diapers, they’re still doing laundry. The pace has slowed a little bit, but that’s why market growth has definitely slowed in the last 18 to 24 months,” Schulten said.
The company’s baby, feminine and family care division saw the sharpest decline in demand, with sales volumes down 5% in the quarter. The company said demand for family care products such as Bounty paper towels, puff tissues and Charmin toilet paper declined the most, as it faced tough comparisons with the same period last year, when retailers and consumers stocked up ahead of an expected port strike.
P&G’s grooming business, which includes Gillette and Venus razors, reported a 2% drop in volume.
Volume in the company’s Healthcare segment fell 1% in the quarter. This division includes Oral-B, Vicks, and Pepto-Bismol.
P&G’s fabric and home care business, which includes brands such as Febreze and Tide, reported sales volumes unchanged from the same period last year.
The company’s beauty division was the only division to report an increase in sales volumes. Sales volume increased 3% due to increased demand for the company’s hair care products.
Schulten said P&G expects sales to grow in the second half of the fiscal year due to future innovations. The company forecasts sales growth rate of 1% to 5% in fiscal 2026.
