PG · 10-Q · 2026Q3

PROCTER & GAMBLE Co

Filed 2026-10-22 · Industrials · View original filing on EDGAR

Ranked Events

• Acquisition / Partnership / DivestitureImportance 71 · Surprise 60
  P&G completed its acquisition of Thorne on October 1, 2026, for $3.9 billion in an all-cash transaction. Thorne is a premium wellness and supplement brand primarily selling in North America. The business will become…
• Focused Portfolio RestructuringImportance 58 · Surprise 42
  In June 2025, P&G announced a portfolio and productivity plan expected to generate approximately $2.0 billion in before-tax restructuring costs over two years. The company incurred more than half of these costs in…
• Headcount / RestructuringImportance 58 · Surprise 42
  P&G expects approximately $2.0 billion of before-tax restructuring costs over two years under the portfolio, supply chain, and productivity plan announced in June 2025. The company incurred more than half of those…
• Thorne Acquisition and Portfolio StrategyImportance 53 · Surprise 60
  P&G completed the acquisition of Thorne on October 1, 2026, for $3.9 billion in an all-cash transaction. Thorne is a premium wellness and supplement brand primarily sold in North America. The business will join P&G’s…
• Geographic Market CommentaryImportance 52 · Surprise 56
  Growth was broad-based but uneven by geography. Beauty delivered high-single-digit Hair Care growth in Asia Pacific and Latin America, more than 20% Personal Care growth in Europe, and double-digit Skin Care growth in…
• Liquidity and Debt PositionImportance 50 · Surprise 24
  Financing activities generated $1.1 billion of net cash fiscal year to date, primarily from a net debt increase related to the planned Thorne acquisition. Dividends and treasury-stock purchases partially offset the…
• Interest Expense IncreaseImportance 42 · Surprise 40
  Interest expense increased $26 million year over year to $223 million in the quarter ended September 30, 2026. Interest income declined $6 million to $102 million. Other non-operating income declined $61 million to…
• Adjusted Free Cash Flow and CapexImportance 41 · Surprise 14
  Fiscal-year-to-date operating cash flow increased $359 million year over year to $5.8 billion through September 30, 2026. Capital spending was $1.366 billion, producing free cash flow of $4.401 billion and…
• Market Demand TrendsImportance 37 · Surprise 32
  P&G’s quarterly net sales increased 4.0%, with unit volume up 2.4% and organic sales up 4.0%. Fabric & Home Care volume rose 4.3%, driven by market growth in North America, Europe and Latin America, while Beauty volume…
• Operating Expense TrendsImportance 36 · Surprise 14
  Total SG&A spending was essentially unchanged at $5.7 billion year over year, while SG&A declined 90 basis points to 24.3% of net sales. Lower overhead costs and scale benefits offset higher marketing spending, and…
• Gross Margin DriversImportance 36 · Surprise 40
  Gross margin declined 160 basis points to 49.8% of net sales in the quarter ended September 30, 2026. Commodity costs reduced margin by 140 basis points, product and packaging investments reduced it by 140 basis…
• Supply Chain And InventoryImportance 31 · Surprise 32
  P&G reported increased safety-stock levels as part of its supply-chain management, causing inventories to consume $349 million of cash year to date. Days inventory on hand nevertheless decreased by two days, indicating…
• Product Launch and TransitionImportance 31 · Surprise 42
  Innovation was a major driver of volume and mix across P&G’s portfolio. Hair Care volume grew in Europe, Asia Pacific and Greater China due to innovation, while Personal Care volume benefited from innovation in Greater…
• Segment Revenue PerformanceImportance 30 · Surprise 14
  Beauty sales increased 6% to $4.4 billion, with organic sales up 5%, while Grooming sales increased 4% to $1.9 billion and organic sales increased 5%. Health Care sales increased 3% to $3.3 billion despite a 3%…
• Revenue Performance and MixImportance 30 · Surprise 14
  Net sales increased 4.0% year over year to $23.276 billion from $22.386 billion for the three months ended September 30, 2026. Unit volume contributed 2.4%, favorable geographic mix contributed 1.1%, and pricing…
• Competition and Market ShareImportance 23 · Surprise 24
  P&G operates across branded, private-label and multiple price-tier categories, with competition from global, regional and local players. Beauty’s global market share declined 0.2 points, including declines of 0.4…
• Manufacturing and CapacityImportance 20 · Surprise 24
  Manufacturing productivity savings provided a 120-basis-point benefit to gross margin and contributed to cost competitiveness during the quarter. Fabric & Home Care absorbed substantial commodity, product-investment…
• Income Tax Rate ChangesImportance 18 · Surprise 14
  The effective income tax rate increased to 21.0% for the three months ended September 30, 2026, from 20.8% in the prior-year quarter. The 20-basis-point increase was primarily caused by discrete impacts related to…
• Distribution ChannelsImportance 10 · Surprise 6
  P&G sells through a diversified channel network spanning mass merchandisers, e-commerce and social commerce, grocery and membership clubs, drug and department stores, distributors, wholesalers, specialty beauty stores,…

Revenue by Product (in millions)