Procter & Gamble (PG) Earnings: Q1 Fiscal 2027 Results and Next Report Date

The quarter ended September 30, 2026 and Procter & Gamble published the results on October 22, 2026. Revenue and diluted EPS are shown against Q1 fiscal 2026, the same quarter a year earlier, which takes seasonal swings out of the comparison. Procter & Gamble reports EPS two ways: GAAP, under the accounting rules every US filer follows, and Core EPS, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Procter & Gamble's fiscal year ends June 30, so Q1 fiscal 2027 is July to September 2026.
• Procter & Gamble completed its $3.9 billion acquisition of Thorne on October 1, 2026, after the quarter ended. Thorne's results will be reported from the quarter ending December 31, 2026.

Source: Procter & Gamble Q1 fiscal 2027 results, October 22, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Procter & Gamble splits revenue in its own release, under its own labels, for Q1 fiscal 2027 against Q1 fiscal 2026. Indented lines are parts of the line above them.

• Procter & Gamble's Beauty revenue was $4.4 billion in Q1 fiscal 2027, up 6% from $4.1 billion in Q1 fiscal 2026, 19% of total revenue.
• Procter & Gamble's Grooming revenue was $1.9 billion in Q1 fiscal 2027, up 4% from $1.8 billion in Q1 fiscal 2026, 8% of total revenue.
• Procter & Gamble's Health Care revenue was $3.3 billion in Q1 fiscal 2027, up 3% from $3.2 billion in Q1 fiscal 2026, 14% of total revenue.
• Procter & Gamble's Fabric & Home Care revenue was $8.2 billion in Q1 fiscal 2027, up 5% from $7.8 billion in Q1 fiscal 2026, 35% of total revenue.
• Procter & Gamble's Baby, Feminine & Family Care revenue was $5.3 billion in Q1 fiscal 2027, up 3% from $5.2 billion in Q1 fiscal 2026, 23% of total revenue.
• Procter & Gamble's Corporate revenue was $132 million in Q1 fiscal 2027, down 45% from $242 million in Q1 fiscal 2026, under 1% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q1 fiscal 2027 release, Procter & Gamble said:

“P&G updated its guidance range for fiscal 2027 all-in sales growth to be in the range of two to four percent versus the prior year, reflecting the acquisition of Thorne as of October 1, 2026.”

“The Company maintained its outlook for organic sales growth in the range of one to three percent versus the prior year.”

“P&G also maintained its fiscal 2027 core earnings per share growth to be in the range of in-line to three percent versus fiscal 2026 core EPS of $6.89.”

“P&G continues to expect free cash flow productivity of 85% to 90% and expects to pay over $10 billion in dividends and to repurchase approximately $5 billion of common shares in fiscal 2027.”

Source: Procter & Gamble Q1 FY27 release, Oct 22, 2026.

This is the company's own guidance as of Oct 22, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the PG forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP net sales and diluted EPS, each as first reported in that quarter's release. Procter & Gamble reports the fourth quarter in its own release, so no quarter here is derived.

Procter & Gamble's next report is expected around January 21, 2027, a date estimated from its reporting history that the company has not yet confirmed. This page will show Q1 fiscal 2027 until those results are out and have been checked against the release.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q1 fiscal 2027 (this page), reported Oct 22, 2026

Procter & Gamble reports net sales in five segments. In Q1 fiscal 2027 Fabric & Home Care, home to Tide, Ariel and Dawn, was the largest at $8,205 million of $23,276 million in total. Baby, Feminine & Family Care, which includes Pampers, Always and Charmin, brought in $5,322 million, Beauty $4,410 million, Health Care $3,318 million and Grooming $1,889 million. In fiscal 2026 Fabric & Home Care was 35% of net sales excluding Corporate. (Procter & Gamble Q1 FY27 release, Oct 22, 2026; Procter & Gamble Form 10-K, fiscal 2026, Aug 4, 2026)

Net sales and organic sales both grew 4.0%. Procter & Gamble broke the organic figure into a 2.4% increase from volume, 1.1% from mix and 0.4% from price, with foreign exchange neutral. Fabric & Home Care volume grew 4.3%, while Health Care volume fell 2.9% and Grooming volume fell 0.4%. Both of those segments grew on price and mix. (Procter & Gamble Q1 FY27 release, Oct 22, 2026)

Organic sales rose 5.4% in Beauty, 4.8% in Fabric & Home Care, 4.5% in Grooming, 3.0% in Baby, Feminine & Family Care and 2.7% in Health Care. Procter & Gamble cited volume increases in North America and Europe for Fabric Care and Home Care, and volume growth in Greater China and Europe for Personal Care. (Procter & Gamble Q1 FY27 release, Oct 22, 2026)

Walmart Inc. and its affiliates accounted for about 16% of Procter & Gamble's net sales in fiscal 2026, and no other customer exceeded 10%. More than half of sales are generated outside the United States; Greater China, the United Kingdom, Canada, Japan and Germany together were about 21% of fiscal 2026 net sales. (Procter & Gamble Form 10-K, fiscal 2026, Aug 4, 2026)

Procter & Gamble's diluted EPS was $1.97 and its Core EPS $2.00 in Q1 fiscal 2027, each up 1%. The $0.03 gap is incremental restructuring: Core EPS excludes restructuring charges above the normal level of roughly $250 to $500 million a year, under a portfolio and productivity plan announced in June 2025 that is expected to cost about $2 billion before tax over two years. (Procter & Gamble Q1 FY27 release, Oct 22, 2026)

Procter & Gamble's costs rose faster than its sales. Reported gross margin fell 160 basis points to 49.8%, with 140 basis points of higher commodity costs and 140 basis points of product reinvestments, partly offset by 120 basis points of productivity savings. Operating income was $5,937 million against $5,856 million a year earlier. (Procter & Gamble Q1 FY27 release, Oct 22, 2026)

Diluted weighted average shares fell to 2,407.2 million from 2,436.8 million. Procter & Gamble repurchased $1.3 billion of shares and paid $2.6 billion in dividends in the quarter, and the effective tax rate was 21.0% against 20.8% a year earlier. (Procter & Gamble Q1 FY27 release, Oct 22, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Procter & Gamble gives full-year guidance in its release. With Q1 fiscal 2027 results it raised the all-in sales growth range to 2% to 4% to reflect the Thorne acquisition and kept organic sales growth at 1% to 3%, including a headwind of 30 to 50 basis points from discontinuations. (Procter & Gamble Q1 FY27 release, Oct 22, 2026)

Procter & Gamble kept diluted EPS growth at 1% to 5% against fiscal 2026's $6.62, and Core EPS growth at in-line to 3% against $6.89, which it equates to $6.89 to $7.11 per share. It now expects a commodity cost headwind of about $1.4 billion after tax and, with interest, non-operating income and currency, a combined headwind of $0.79 per share. (Procter & Gamble Q1 FY27 release, Oct 22, 2026)

A consensus figure is the average of the models published by the analysts who cover Procter & Gamble, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Procter & Gamble's own release and filings put weight on for Q1 fiscal 2027, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning PG is on is PG a buy or a sell?, what analysts expect next is on the PG forecast, and what the company does is on the Procter & Gamble (PG) stock page.

Every number on this page can be traced to a document Procter & Gamble published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.