The Procter & Gamble Company · PG · Next earnings

The Procter & Gamble Company reports Thursday, Oct 22, 2026

PG reports before market open with consensus EPS at $1.89 and revenue at $22.72B. Last quarter: PG Q3 FY26: Organic Sales Top 3% Across All Categories, $1B Cost Headwind Looms

Reports Before market open32 days awayDate estimated Consumer Defensive

What the street expects

Consensus for the coming report
Consensus EPS $1.89 Calendar consensus
Consensus revenue $22.72B Calendar consensus
Report date Oct 22, 2026 Thursday, date estimated
Session Before market open 32 days away

Where PG left off: FY2026 Q3

Full report

PG Q3 FY26: Organic Sales Top 3% Across All Categories, $1B Cost Headwind Looms

EPS surprise +1.9% Reported $1.59 vs $1.56
Revenue surprise +3.4% Reported $21.23B vs $20.53B
Stock move +1.7% Event window
Subsequent drift -2.5% Up to 20 sessions

FY26 guidance was maintained for the second consecutive quarter: organic sales growth of approximately +4%, core EPS of $6.83-$7.09, free-cash-flow productivity of 85-90%, and $15 billion in total cash returns to shareholders. The key delta is that management now expects full-year EPS to land toward the lower end of the range, reflecting the approximately $1 billion after-tax cost pressure from commodities, energy, and logistics. The 3% dividend increase and share repurchase program remain unchanged. Capex outlook continues to be increasing, consistent with the prior quarter's $10 billion capacity-investment plan.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • Commodity and energy price inflation creating roughly $1 billion in after-tax cost pressure
  • Geopolitical instability in the Middle East disrupting supply chains and logistics
  • Potential consumer spending slowdown due to persistent inflationary pressure
  • Supply chain disruptions and logistics cost spikes
  • Uncertainty around pricing power in a high-inflation environment

Questions analysts left open

  • Sustainability of organic sales growth into Q4 and FY27
  • Magnitude and timing of the $1 billion after-tax cost headwind and its impact on margins
  • Ability to maintain pricing power without eroding consumer demand
  • Competitive positioning versus rivals in a cost-pressured market
  • Progress and execution of restructuring and the 15% headcount reduction plan

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Recent PG quarters

All PG earnings
+1.7%FY2026 Q3

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2026 Q3

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.