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Procter & Gamble PG Q2 2026 earnings

Reported January 22, 2026 · Before market open

Revenue$22.2BMiss by $89.3MDiluted EPS$1.88Beat by $0.02
Revenue estimate$22.3B
EPS estimate$1.86

Next report

Jul 29, 2026 (In 2 weeks)
Revenue estimate$21.4B
EPS estimate$1.43

Financials

Q2 2026

Income statement

See full
Revenue$22.2B+1.5%
Gross profit$11.4B-0.8%
Operating income$5.4B-6.5%
Net income$4.3B-6.7%
EPS (diluted)$1.78-5.3%

Balance sheet

See full
Cash & equivalents$10.8B+5.8%
Total debt$36.6B+5.6%
Total assets$127.29B+3.8%

Cash flow

See full
Operating cash flow$5.0B+3.0%
CapEx$1.2B+26.2%
Free cash flow$3.8B-2.4%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$334.88B-15.2%
Enterprise value$360.69B-14.0%
P/E20.4×-5.2×
P/S3.9×-0.8×

Profitability

See full
Gross margin50.7%-0.7pp
Operating margin23.6%0.0pp
Net margin19.3%+0.9pp
FCF margin17.4%-0.9pp

Returns & leverage

See full
Current ratio0.7×0.0×

Segments

By segment

See full
Beauty$4.0B+5.0%
Health Care$3.4B+4.8%
Grooming$1.8B+2.4%

Versus estimates

Revenue

Q3 2026$21.2BBeat by $703.3M
Q2 2026$22.2BMiss by $89.3M
Q1 2026$22.4BBeat by $204.3MQ4 2025$20.9BBeat by $48.3MQ3 2025$19.8BMiss by $378.0MQ2 2025$21.9BBeat by $303.8M

Diluted EPS

Q3 2026$1.59Beat by $0.03
Q2 2026$1.88Beat by $0.02
Q1 2026$1.99Beat by $0.09Q4 2025$1.48Beat by $0.06Q3 2025$1.54Beat by $0.02Q2 2025$1.88Miss by $0.01

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Questions, answered.

When did Procter & Gamble report Q2 2026 earnings?
Procter & Gamble (PG) reported Q2 2026 earnings on January 22, 2026 before market open.
What were Procter & Gamble's Q2 2026 revenue and EPS?
Procter & Gamble reported revenue of $22.2B and diluted EPS of $1.88 for Q2 2026.
Did Procter & Gamble beat estimates in Q2 2026?
Revenue missed the consensus estimate of $22.3B by $89.3M. EPS beat the consensus estimate of $1.86 by $0.02.
How did Procter & Gamble's Q2 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 1.5% from $21.9B a year earlier and diluted EPS grew 0.0% from $1.88.
Where can I find Procter & Gamble's Q2 2026 SEC filings?
You can read the 8-K earnings release (0000080424-26-000006) and the 10-Q periodic report (0000080424-26-000011) directly on SEC EDGAR. The filing index links above go to sec.gov.