The Procter & Gamble Company (P&G) reported its financial results for the second quarter of fiscal 2026, revealing a modest increase in net sales and net earnings compared to the same period last year. For the three months ended December 31, 2025, P&G's net sales reached $22.2 billion, a 1% increase from $21.9 billion in the prior year. The company's net earnings for the quarter were $4.3 billion, down 7% from $4.7 billion in the same quarter of 2024. This decline in earnings was attributed to a decrease in operating income and increased selling, general, and administrative expenses.
In the first half of fiscal 2026, P&G's net sales totaled $44.6 billion, reflecting a 2% increase from $43.6 billion in the previous year. The company reported net earnings of $9.1 billion, a 5% increase from $8.6 billion in the same period last year. The growth in net earnings was primarily driven by a favorable comparison to the previous year's restructuring charges related to the liquidation of operations in Argentina. Diluted earnings per share rose to $3.73, a 7% increase from $3.49 in the prior year.
P&G's operational performance showed mixed results across its business segments. The Beauty segment saw a 5% increase in net sales, driven by higher unit volumes and pricing, while the Grooming segment experienced a 2% increase in sales. The Health Care segment also reported a 5% increase in sales. However, the Fabric & Home Care segment's sales grew only 1%, and the Baby, Feminine & Family Care segment saw a 3% decline in net sales. The company noted that organic sales, which exclude the impacts of acquisitions and divestitures, increased by 1% for the first half of the fiscal year.
Strategically, P&G is undergoing a significant restructuring plan aimed at streamlining its operations and improving cost efficiency. The company expects to incur approximately $1.5 to $2.0 billion in restructuring costs over the next two years, with plans to reduce its non-manufacturing workforce by up to 7,000 employees by the end of fiscal 2027. Additionally, P&G announced that it would not renew its joint venture agreement with Clorox for the Glad brand, anticipating cash proceeds of around $500 million from the sale of its minority interest in the venture.
Looking ahead, P&G remains cautious about the economic environment, citing potential risks from global economic volatility, foreign exchange fluctuations, and commodity price changes. The company is focused on maintaining its market share and driving innovation across its product lines while managing costs effectively. P&G's leadership expressed confidence in the company's ability to navigate these challenges and continue delivering value to shareholders.
About PROCTER & GAMBLE Co
Procter & Gamble is a leading multinational consumer goods company that develops, manufactures, markets, and distributes a broad portfolio of trusted, branded products across categories like beauty, grooming, health care, and home care. Serving consumers in approximately 180 countries, it emphasizes innovation, sustainability, and brand strength to deliver superior performance and value through diverse channels including retail, e-commerce, and direct sales.
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