The Procter & Gamble Company Stock Earnings Reports

P&G reported a mixed Q3 with organic sales up 1% and core EPS up roughly 3% (currency-neutral). Performance was uneven across regions and categories: Personal health care and skin/personal care led growth, while family, baby and home care were down slightly. North America and Europe saw near-term softness driven by lower consumer offtake and retailer inventory destocking, though shipments returned closer to consumer pace in March and market share largely held. China showed modest improvement (SK‑II strong). P&G emphasized maintaining investment in brand-building, innovation and demand creation rather than cutting to protect short‑term margins. The company reaffirmed productivity plans (280 bps YTD) and strong capital returns (announced 5% dividend increase; $16–17B planned returns for FY25). Updated FY25 guidance: organic sales growth ~2%, core EPS $6.72–$6.82 (2–4% growth vs. prior year), Q4 core EPS $1.37–$1.47, commodity headwind ~$200M after tax, FX headwind ~$200M after tax, forecast adjusted free cash flow productivity ~90%, and estimated tariff impacts of $100–$160M in Q4 (annualized ~$1–$1.5B pre-tax). Management reiterated a two- to three-year focus to return to mid-single-digit top-line growth and mid-to-high single digit EPS growth, leveraging superiority across price tiers, productivity, and constructive disruption.