Procter & Gamble backs FY26 core EPS view $6.83-$7.09, consensus $6.97

Backs FY26 revenue view up 1%-5%. The company said, “P&G maintained its guidance range for fiscal 2026 all-in sales growth to be in the range of one to five percent versus the prior year. The net impacts of foreign exchange rates and acquisitions and divestitures are expected to be a tailwind of approximately one percentage point to all-in sales growth. The Company also maintained its outlook for organic sales growth in the range of in-line to up four percent versus the prior year. P&G maintained its fiscal 2026 diluted net earnings per share growth to be in the range of 3% to 9% versus fiscal 2025 diluted net EPS of $6.51. P&G also maintained its fiscal 2026 core earnings per share growth to be in the range of in-line to up four percent versus fiscal 2025 core EPS of $6.83. This outlook equates to a range of $6.83 to $7.09 per share, with a mid-point estimate of $6.96, or an increase of 2%. P&G now expects a commodity cost headwind of approximately $100 million after tax and higher costs from tariffs of approximately $400 million after tax for fiscal 2026. The Company continues to expect a net headwind of roughly $250 million after-tax from modestly higher net interest expense and a higher core effective tax rate versus the prior year. The Company also continues to expect favorable foreign exchange rates will be a tailwind of approximately $300 million after tax. Collectively these impacts equate to a headwind of $0.19 per share for fiscal 2026… P&G continues to expect a core effective tax rate to be in the range of 20% to 21% in fiscal 2026. Capital spending is estimated to be in the range of four to five percent of fiscal 2026 net sales. P&G continues to expect adjusted free cash flow productivity of 85% to 90% and expects to pay around $10 billion in dividends and to repurchase approximately $5 billion of common shares in fiscal 2026.”