PG · 8-K · 20261022PR000252

Gross Margin Drivers

PROCTER & GAMBLE Co · 2026-10-22 · Importance 24 · Surprise 14

Q1 FY 2027 core gross margin was 50.0%, down 150 basis points from 51.5% in the prior-year quarter. Currency had no impact on the year-over-year core gross-margin change, leaving currency-neutral core gross margin at 50.0%. The release identified increased commodity costs, transportation costs, product mix and product investment as segment-level pressures, while productivity savings and pricing supported earnings in several businesses.

Key facts

• Q1 FY 2027 core gross margin declined 150 basis points versus the prior year. source
• Currency-neutral core gross margin for Q1 FY 2027 was 50.0% with a 150 basis point decline versus prior year. source
• Gross margin for the three months ended September 30, 2026 was 49.8% and for the prior period 2025 was 51.4%. source
• Q1 FY 2027 core gross margin was 50.0% and core gross margin for the three months ended September 30, 2026 was 50.0%. source