PG · 10-Q · 2026Q1 · Full report

FX / Currency Headwinds

PROCTER & GAMBLE Co · 2026-04-24 · Importance 49 · Surprise 32 · No source text

Favorable foreign exchange meaningfully contributed to reported sales in the quarter and year-to-date periods: Fabric & Home Care net sales rose 7% to $7.4 billion for the quarter driven by favorable foreign exchange of 4%, and Baby, Feminine & Family Care net sales increased 6% for the quarter driven by a 3% FX benefit. For the nine months ended March 31, 2026, foreign exchange contributed ~2% to Fabric & Home Care net sales and ~2% to Baby, Feminine & Family Care net sales, and is explicitly excluded from the Company’s organic sales growth metric. Management discloses organic sales growth as a non-GAAP measure excluding foreign exchange and acquisitions/divestitures to provide a like-for-like view of volume and pricing performance. The FX impact is called out across multiple segments and geographies (North America, Europe, IMEA, Greater China, Latin America) and is material to reported net sales growth in the periods presented.

Key facts

• The three-month net sales increase was due to favorable foreign exchange of 4%, a unit volume increase of 2% and higher pricing of 1%; mix was unchanged. source
• Foreign exchange had a positive impact of approximately $101 million on net earnings for the quarter (three months ended March 31, 2026). source
• Foreign exchange had a positive impact of approximately $185 million on net earnings for the nine months ended March 31, 2026. source

Impact estimates