Analyst Consensus ?
ConsensusHold51 ratings
Bullish2549.0%
Neutral2549.0%
Bearish12.0%
1 unmapped firm rating excluded from the percentages.
The Procter & Gamble Company · PG · FY2026 Q2 · Calendar Q1 2026
P&G Holds FY26 Guidance as Innovation Targets a Second-Half Acceleration
The supplied analysis supports a cautiously constructive view: P&G's resilient organic growth, maintained FY26 targets and planned innovation provide support, while U.S. demand, investment needs and execution risks leave the second-half acceleration to be demonstrated.
Reported Before market openNYSEConsumer Defensive
$352.68B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.88
Consensus $1.86
EPS surprise
+1.1%
Reported versus consensus
Reported revenue
$22.21B
Consensus $22.30B
Revenue surprise
-0.4%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+2.6%
Event window
SPY move
+0.5%
Same window
Abnormal move
+2.1%
Stock minus SPY
Volume
1.8×
Versus trailing sessions
Subsequent drift
+7.2%
Up to 20 sessions
PGSPY benchmark
Ask FN2 about PG FY2026 Q2
Transcript, numbers and history already loaded
Why did PG rise 2.6% after beating EPS estimates in FY2026 Q2?What changed in PG's guidance and outlook in FY2026 Q2?Give me the bull and bear case for PG after FY2026 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Relative to the prior-quarter analysis, the current quarter emphasizes a softer Q2 followed by an expected second-half acceleration, with greater detail on Pampers Prestige, AI-enabled product development and a petabyte-scale data lake. FY26 guidance remained maintained.
Guidance delta
Maintained: FY26 targets remain organic sales growth of roughly 4%, core EPS of $6.83-$7.09, free-cash-flow productivity of 85%-90%, and about $15 billion in cash returns.
Key takeaways
- Q2 was described as the softest quarter, though worldwide organic sales still grew about 3%.
- Management expects new launches, retail execution and productivity gains to support a second-half acceleration.
- The main debate is whether innovation and productivity can offset U.S. demand, investment and competitive pressures.
Management priorities
- Launch Pampers Prestige, Tide Evo and expanded Olay offerings in the second half.
- Integrate the data lake, AI tools and supply-chain automation over the stated 12-18 month timeframe.
- Add capacity in key categories while continuing productivity initiatives and shareholder cash returns.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$146.83Current
$40Low
$159.98Average
$192High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 30, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Argus Research | Hold | Buy | Downgrade | Aug 7, 2026 |
| HSBC | Hold | Buy | Downgrade | Jul 30, 2026 |
| Citigroup | Buy | Buy | Maintain | Jul 30, 2026 |
| Barclays | Equal Weight | Equal Weight | Maintain | Jul 21, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Jul 16, 2026 |
| B of A Securities | Buy | Buy | Maintain | Jul 10, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Apr 27, 2026 |
| UBS | Buy | Buy | Maintain | Apr 27, 2026 |
| TD Cowen | Hold | Hold | Maintain | Apr 27, 2026 |
| Evercore ISI Group | In Line | In Line | Maintain | Apr 27, 2026 |
| Piper Sandler | Neutral | Neutral | Maintain | Apr 8, 2026 |
| Deutsche Bank | Hold | Hold | Maintain | Mar 30, 2026 |
| Jefferies | Buy | Hold | Upgrade | Dec 17, 2025 |
| Freedom Broker | Hold | Hold | Maintain | Oct 29, 2025 |
| Raymond James | Outperform | Outperform | Maintain | Oct 20, 2025 |
| BNP Paribas | Outperform | Outperform | Maintain | Aug 15, 2025 |
| Truist Securities | Buy | Buy | Maintain | Apr 25, 2025 |
| RBC Capital | Outperform | Sector Perform | Upgrade | Apr 25, 2025 |
| Morgan Stanley | Overweight | Overweight | Maintain | Apr 25, 2025 |
| Stifel | Hold | Hold | Maintain | Jan 23, 2025 |
| DA Davidson | Buy | Buy | Maintain | Jan 23, 2025 |
| DZ Bank | Buy | Hold | Upgrade | Aug 29, 2024 |
| Bernstein | Market Perform | Market Perform | Maintain | Oct 12, 2023 |
| Wolfe Research | Outperform | Outperform | Maintain | Nov 22, 2022 |
| Credit Suisse | Neutral | Neutral | Maintain | Nov 15, 2022 |
| Goldman Sachs | Neutral | Buy | Downgrade | Oct 10, 2022 |
| Independent Research | Buy | Hold | Upgrade | Jan 22, 2021 |
| Berenberg | Hold | Sell | Upgrade | Jan 24, 2019 |
| Bank of America | Buy | Buy | Maintain | Jan 8, 2019 |
| Macquarie | Outperform | Outperform | Maintain | Oct 22, 2018 |
| Atlantic Equities | Overweight | Overweight | Maintain | Sep 20, 2018 |
| B. Riley FBR | Neutral | Buy | Downgrade | May 5, 2018 |
| Stifel Nicolaus | Hold | Hold | Maintain | Apr 20, 2018 |
| Argus | Hold | Buy | Downgrade | Apr 20, 2018 |
| B. Riley Securities | Neutral | Buy | Downgrade | Mar 6, 2017 |
| SunTrust Robinson Humphrey | Hold | Buy | Downgrade | Dec 22, 2016 |
| CLSA | Outperform | Outperform | Maintain | Oct 26, 2016 |
| Argus Capital | Buy | Hold | Upgrade | Oct 12, 2016 |
| Johnson Rice | Buy | Accumulate | Maintain | Aug 26, 2016 |
| Sterne Agee CRT | Buy | Neutral | Upgrade | Feb 16, 2016 |
| Sterne Agee | Buy | Neutral | Upgrade | Feb 16, 2016 |
| GMP Securities | Hold | Hold | Maintain | Feb 3, 2016 |
| Hilliard Lyons | Neutral | Upgrade | Jun 4, 2015 | |
| Societe Generale | Hold | Buy | Downgrade | Apr 29, 2015 |
| BTIG Research | Neutral | Neutral | Maintain | Dec 30, 2014 |
| Canaccord Genuity | Hold | Buy | Downgrade | Nov 17, 2014 |
| Standpoint Research | Hold | Sell | Upgrade | Jan 31, 2014 |
| Exane BNP Paribas | Underperform | Underperform | Maintain | Sep 11, 2013 |
| Oracle Investment Research | Hold | Sell | Upgrade | May 24, 2013 |
| Tigress Financial | Neutral | Neutral | Maintain | Feb 25, 2013 |
| BMO Capital | Outperform | Outperform | Maintain | Oct 26, 2012 |
| Bank oferica | Buy | Buy | Maintain | Feb 28, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $146.83. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Bernstein | Cristian Rios | $149 | $146.25 | +1.5% | Aug 24, 2026 |
| HSBC | Diego Serrano | $149 | $146.15 | +1.5% | Jul 30, 2026 |
| HSBC | Analyst unavailable | $142 | $146.15 | -3.3% | Jul 29, 2026 |
| Barclays | Analyst unavailable | $152 | $149.14 | +3.5% | Jul 21, 2026 |
| Bernstein | Analyst unavailable | $156 | $148.32 | +6.2% | Jun 11, 2026 |
| UBS | Analyst unavailable | $172 | $148.46 | +17.1% | Apr 27, 2026 |
| Deutsche Bank | Steve Powers | $163 | $148.63 | +11.0% | Apr 27, 2026 |
| Evercore ISI | Robert Ottenstein | $162 | $148.11 | +10.3% | Apr 27, 2026 |
| Wells Fargo | Analyst unavailable | $164 | $148.11 | +11.7% | Apr 27, 2026 |
| Barclays | Analyst unavailable | $146 | $143.86 | -0.6% | Apr 14, 2026 |
| RBC Capital | Analyst unavailable | $167 | $146.66 | +13.7% | Apr 9, 2026 |
| Piper Sandler | Analyst unavailable | $142 | $144.9 | -3.3% | Apr 8, 2026 |
| Wells Fargo | Analyst unavailable | $177 | $160.07 | +20.5% | Feb 17, 2026 |
| UBS | Analyst unavailable | $170 | $151.06 | +15.8% | Jan 23, 2026 |
| Wells Fargo | Chris Carey | $165 | $149.93 | +12.4% | Jan 23, 2026 |
| Barclays | Lauren Lieberman | $155 | $144.37 | +5.6% | Jan 16, 2026 |
| UBS | Peter Grom | $161 | $146.54 | +9.7% | Jan 14, 2026 |
| Piper Sandler | Analyst unavailable | $150 | $139.91 | +2.2% | Jan 7, 2026 |
| Wells Fargo | Analyst unavailable | $158 | $140.04 | +7.6% | Jan 5, 2026 |
| Jefferies | Analyst unavailable | $179 | $145.21 | +21.9% | Dec 16, 2025 |
| Barclays | Analyst unavailable | $151 | $143.45 | +2.8% | Dec 8, 2025 |
| Morgan Stanley | Analyst unavailable | $175 | $151.46 | +19.2% | Oct 27, 2025 |
| UBS | Peter Grom | $176 | $150.92 | +19.9% | Oct 8, 2025 |
| Barclays | Lauren Lieberman | $153 | $153.65 | +4.2% | Oct 1, 2025 |
| Barclays | Analyst unavailable | $164 | $152.88 | +11.7% | Jul 31, 2025 |
| UBS | Peter Grom | $180 | $154.94 | +22.6% | Jul 30, 2025 |
| Redburn Partners | Edward Lewis | $161 | $159.98 | +9.7% | May 1, 2025 |
| Morgan Stanley | Dara Mohsenian | $180 | $160.06 | +22.6% | Apr 25, 2025 |
| Barclays | Lauren Lieberman | $159 | $164.74 | +8.3% | Jan 23, 2025 |
| Jefferies | Kaumil Gajrawala | $174 | $175.68 | +18.5% | Dec 5, 2024 |
| Stifel Nicolaus | Mark Astrachan | $167 | $176.28 | +13.7% | Nov 22, 2024 |
| Truist Financial | Bill Chappell | $180 | $169.64 | +22.6% | Oct 21, 2024 |
| RBC Capital | Nik Modi | $164 | $169 | +11.7% | Oct 21, 2024 |
| D.A. Davidson | Linda Bolton Weiser | $160 | $169.02 | +9.0% | Oct 21, 2024 |
| Raymond James | Olivia Tong | $190 | $171.28 | +29.4% | Oct 21, 2024 |
| D.A. Davidson | Linda Bolton Weiser | $159 | $169.27 | +8.3% | Oct 9, 2024 |
| Goldman Sachs | Bonnie Herzog | $164 | $168.88 | +11.7% | Oct 4, 2024 |
| Barclays | Lauren Lieberman | $163 | $173.55 | +11.0% | Sep 30, 2024 |
| Piper Sandler | Korinne Wolfmeyer | $174 | $173.77 | +18.5% | Sep 23, 2024 |
| BNP Paribas | Kevin Grundy | $192 | $177.02 | +30.8% | Sep 16, 2024 |
| Jefferies | Kaumil Gajrawala | $175 | $165.93 | +19.2% | Jul 24, 2024 |
| Stifel Nicolaus | Mark Astrachan | $161 | $167.96 | +9.7% | Jul 22, 2024 |
| Evercore ISI | Robert Ottenstein | $183 | $169.44 | +24.6% | Jul 18, 2024 |
| Deutsche Bank | Steve Powers | $176 | $168.53 | +19.9% | Jul 17, 2024 |
| BNP Paribas | Kevin Grundy | $187 | $168.26 | +27.4% | Jun 24, 2024 |
| Argus Research | Chris Graja | $185 | $162.88 | +26.0% | Apr 25, 2024 |
| Barclays | Lauren Lieberman | $170 | $160.54 | +15.8% | Apr 23, 2024 |
| Bernstein | Alexia Howard | $40 | $151.38 | -72.8% | Nov 24, 2023 |
| Morgan Stanley | Dara Mohsenian | $174 | $146.26 | +18.5% | Oct 18, 2023 |
| Raymond James | Olivia Tong | $170 | $150.25 | +15.8% | Jan 13, 2023 |
| J.P. Morgan | Analyst unavailable | $150 | $149.86 | +2.2% | Jan 13, 2023 |
| Wells Fargo | Analyst unavailable | $168 | $150.62 | +14.4% | Jan 3, 2023 |
| Deutsche Bank | Analyst unavailable | $162 | $148.47 | +10.3% | Dec 6, 2022 |
| Wells Fargo | Analyst unavailable | $155 | $140.49 | +5.6% | Nov 16, 2022 |
| Credit Suisse | Analyst unavailable | $130 | $141.66 | -11.5% | Nov 15, 2022 |
| Raymond James | Olivia Tong | $155 | $124.43 | +5.6% | Oct 12, 2022 |
| Goldman Sachs | Jason English | $143 | $124.27 | -2.6% | Oct 9, 2022 |
| Wells Fargo | Analyst unavailable | $150 | $126.25 | +2.2% | Oct 3, 2022 |
| Barclays | Lauren Lieberman | $154 | $149.81 | +4.9% | Aug 18, 2022 |
| Truist Financial | Analyst unavailable | $160 | $142.6 | +9.0% | Aug 1, 2022 |
| J.P. Morgan | Analyst unavailable | $156 | $139.77 | +6.2% | Jul 21, 2022 |
| Deutsche Bank | Analyst unavailable | $157 | $135.81 | +6.9% | Jun 21, 2022 |
| Deutsche Bank | Steve Powers | $171 | $132.36 | +16.5% | Jun 19, 2022 |
| Wells Fargo | Chris Carey | $170 | $145.46 | +15.8% | Jun 6, 2022 |
| Barclays | Analyst unavailable | $157 | $141.79 | +6.9% | May 23, 2022 |
| Credit Suisse | Kaumil Gajrawala | $150 | $161.74 | +2.2% | Apr 26, 2022 |
| Barclays | Analyst unavailable | $176 | $161.39 | +19.9% | Apr 22, 2022 |
| Deutsche Bank | Analyst unavailable | $177 | $164.54 | +20.5% | Apr 21, 2022 |
| Raymond James | Analyst unavailable | $180 | $163.65 | +22.6% | Apr 21, 2022 |
| UBS | Peter Grom | $160 | $158.52 | +9.0% | Apr 19, 2022 |
| Raymond James | Olivia Tong | $175 | $159.49 | +19.2% | Apr 11, 2022 |
| Goldman Sachs | Jason English | $173 | $155.09 | +17.8% | Apr 1, 2022 |
| Truist Financial | Bill Chappell | $175 | $150.82 | +19.2% | Mar 23, 2022 |
| UBS | Peter Grom | $163 | $162 | +11.0% | Jan 20, 2022 |
| Morgan Stanley | Dara Mohsenian | $177 | $162 | +20.5% | Jan 20, 2022 |
| Stifel Nicolaus | Mark Astrachan | $148 | $161.13 | +0.8% | Jan 19, 2022 |
| Jefferies | Kevin Grundy | $187 | $161.13 | +27.4% | Jan 19, 2022 |
| Wells Fargo | Christopher Carey | $180 | $163.33 | +22.6% | Jan 5, 2022 |
| Bank of America Securities | Bryan Spillane | $160 | $137.73 | +9.0% | Oct 5, 2021 |
| Independent Research | Lars Lusebrink | $154 | $140.79 | +4.9% | Aug 4, 2021 |
| Credit Suisse | Kaumil Gajrawala | $145 | $140.25 | -1.2% | Aug 2, 2021 |
| DZ BANK AG | Michael Pohn | $119 | $133.58 | -19.0% | Apr 21, 2021 |
Track every rating change on PG the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationThe Procter & Gamble Company, commonly referred to as P&G, is a global enterprise that supplies a broad spectrum of branded consumer products to markets worldwide. The company's operations are divided into five main business divisions: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers an assortment of hair care products, including conditioners, shampoos, styling aids, and treatments, under popular names like Head & Shoulders, Herbal Essences, Pantene, and Rejoice. It also features antiperspirants, deodorants, personal cleansing solutions, and skin care items from brands such as Olay, Old Spice, Safeguard, Secret, and SK-II. Within the Grooming division, P&G provides a range of shave care products and grooming appliances, prominently featuring brands like Braun, Gillette, and Venus. The Health Care unit encompasses oral hygiene essentials, including toothbrushes, toothpastes, and other dental care products sold under the Crest and Oral-B brand names.…
Historical context
All PG earningsConsumer Defensive peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| COST Costco Wholesale Corporation | FY2026 Q4 · Calendar Q3 2026 | +3.2% | +2.9% | Costco’s growth broadens as warehouses and digital sales accelerate |
| GIS General Mills, Inc. | FY2027 Q1 · Calendar Q3 2026 | +4.6% | +1.0% | General Mills leans on mix, innovation and e-commerce amid pressure |
| KR The Kroger Co. | FY2026 Q2 · Calendar Q3 2026 | +2.8% | +2.7% | Kroger: Strong digital growth offsets softer sales outlook |
| CPB Campbell Soup Company | FY2026 Q4 · Calendar Q3 2026 | +1.1% | -7.0% | Campbell’s leans on savings and innovation amid pressured demand |
| BF-A Brown-Forman Corporation | FY2027 Q1 · Calendar Q3 2026 | +3.0% | — | Brown-Forman holds FY27 outlook as RTD innovation offsets barrel pressure |
| BF-B Brown-Forman Corporation | FY2027 Q1 · Calendar Q3 2026 | 0.0% | — | Brown-Forman maintains FY27 outlook as innovation offsets pressure |
Latest beats and misses
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- DRIFY2027 Q1 · September 24, 20260.0% EPS-3.0% move
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-09-30T15:06:15.254253+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-30T15:06:15.251040+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-09-30. For educational purposes only; not investment advice.