Procter & Gamble reported second-quarter fiscal 2026 revenue of $21.2 billion, missing analyst estimates of $21.38 billion and rising just 1.5% year on year. Adjusted earnings per share of $1.43 beat consensus by 1.6%, but operating margin fell sharply to 18.6% from 25.1% a year earlier. Management cited persistent input cost inflation, retailer inventory corrections, and a disconnect between sell-in and sell-out trends as key headwinds. The company issued adjusted EPS guidance for fiscal 2027 of $7 at the midpoint, slightly below analyst expectations, and expects roughly $1 billion in after-tax cost headwinds, mostly in the first half. CEO Shailesh Jejurikar noted improved market share trends in China and Latin America, while CFO Andre Schulten emphasized that reinvestment in innovation and digital transformation remains essential despite near-term margin pressure.
Procter & Gamble CompanyRevenue miss and margin pressure weigh on outlook despite EPS beat.