The Procter & Gamble Company (PG) 23rd annual dbAccess Global Consumer Conference summary

Financial performance and outlook

• Fiscal year 2025 net sales reached $84.3B, up 2%, with organic sales growth of 4% and core EPS growth of 2%.

• Q1–Q3 FY26 organic sales growth was 2%, with core EPS growth also at 2%.

• Productivity savings delivered $2B per year, supporting investments and margin improvement.

• Maintained FY2026 guidance despite $150M after-tax headwind from Middle East conflict, with most costs in Q4.

• Sustained cost impact from elevated oil prices could reach $1.3B pre-mitigation.

Strategic initiatives and restructuring

• A two-year non-core restructuring is underway, targeting $1B–$1.6B in costs before tax and up to 7,000 non-manufacturing role reductions.

• Portfolio simplification includes brand divestitures, potential market exits, and go-to-market changes in select countries.

• Supply chain initiatives target production efficiency, faster innovation, and greater reliability.

• Organizational redesign leverages technology for integrated, agile teams and faster decision-making.

• Restructuring has caused a 30–50 bps headwind to organic sales growth, expected to continue next fiscal year.

Innovation and brand building

• Focused on consumer-first innovation, with successful launches like Fairy Skip the Soak, Tide evo, and new Pantene products.

• Integrated campaigns and influencer partnerships drove significant growth for Pantene in Germany.

• Mr. Clean innovations led to 18x category growth share and double-digit sales/user increases.

• Vicks became the #1 cough and cold brand in Latin America, with mid-teens organic sales growth.

• Emphasis on linking superiority to user growth, triggering immediate action if user growth stalls.