In this photo illustration, the Procter and Gamble logo is seen on a Pepto Bismol package on June 5, 2025 in San Anselmo, California.
Justin Sullivan | Getty Images
Procter & Gamble reported mixed quarterly results on Thursday as demand for its Gillette razors and Pampers diapers fell.
The company also changed its earnings outlook for fiscal 2026. P&G now expects net earnings per share growth of between 1% and 6%, down from its previous forecast of 3% to 9%. The company attributed the change to higher restructuring charges. He reiterated his sales growth outlook.
The company’s shares fell about 1% in premarket trading.
Here’s what P&G reported versus what Wall Street expected, based on a survey of analysts by LSEG:
- Earnings per share: $1.88 adjusted versus $1.86 expected
- Revenue: $22.21 billion versus $22.28 billion expected
P&G reported second-quarter net income attributable to the company of $4.32 billion, or $1.78 per share, down from $4.63 billion, or $1.88 per share, a year earlier.
Excluding items such as restructuring costs, the company earned $1.88 per share.
Net sales rose 1% to $22.21 billion. Organic sales, excluding currencies, acquisitions and disposals, remained stable for the quarter.
P&G’s volume fell 1%, with three of its five product categories reporting volume declines. The measure excludes prices, making it a more accurate reflection of demand than sales. Like many consumer companies, P&G has seen demand for some of its products plummet as consumers, fatigued by inflation, search for deals.
The company’s baby, feminine and family care segment saw the largest decline in demand, with volume down 5% during the quarter. The company said demand for its family care products, which include Bounty paper towels, Puffs tissues and Charmin toilet paper, fell the most as it faces tough comparisons with last year’s period.
P&G’s grooming business, which includes Gillette and Venus razors, saw a 2% decline in volume.
The company’s healthcare segment saw volume fall 1% during the quarter. The division includes Oral-B, Vicks and Pepto-Bismol.
P&G’s fabrics and home care business, which includes brands like Febreze and Tide, reported its volume was unchanged from last year.
The company’s beauty segment was the only division to record volume growth. Its volume increased 3%, fueled by stronger demand for its hair care products.