PG · 8-K · 20261022PR000250

Supply Chain Tariff Impact

PROCTER & GAMBLE Co · 2026-10-22 · Importance 20 · Surprise 24

P&G reported a 50-basis-point gross-margin benefit from lower tariff costs and recognized recoveries in the first quarter of fiscal 2027. The release does not quantify the related tariff dollars or identify specific countries or products. Tariff effects were included among the factors partly offsetting commodity, product-reinvestment and unfavorable-mix pressures.

Key facts

• P&G's inventories were $8,485 million as of September 30, 2026. source