Procter & Gamble revenue misses estimates as volume stays unchanged

Procter & Gamble on Wednesday reported mixed quarterly results, as underwhelming demand for its products resulted in weaker-than-expected sales. Shares of the company fell more than 3% in premarket trading. Here's what Procter & Gamble reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG: - Earnings per share: $1.43 adjusted vs. $1.41 expected - Revenue: $21.2 billion vs. $21.38 billion expected P&G reported fiscal fourth-quarter net income attributable to the company of $3.04 billion, or $1.26 per share, down from $3.62 billion, or $1.48 per share, a year earlier. Excluding restructuring costs, transaction gains and other items, the company earned $1.43 per share. Net sales rose 2% to $21.2 billion. The company's organic revenue, which excludes acquisitions, divestitures and currency fluctuations, was unchanged for the quarter, thanks to flat volume across P&G's portfolio. During P&G's full fiscal year 2026, the company has reported volume growth in just one quarter. Like many consumer companies, it has seen demand for its products weaken as shoppers have grown more value conscious, substituting cheaper private label versions instead or stretching their shampoos and laundry detergents further. For fiscal 2027, P&G expects core earnings per share in a range of $6.89 to $7.11. The company is also projecting all-in sales growth in the range of 1% to 3% compared with the prior year. Wall Street was anticipating earnings per share of $7.04 and revenue growth of 2.7% for fiscal 2027. P&G also announced Wednesday that CEO Shailesh Jejurikar will become chair of the board, effective Aug. 1, in addition to his current role. He replaces former chief executive Jon Moeller.