The Procter & Gamble Company (PG) Reports Mixed Second-Quarter 2026 Results Amid Weak Consumer Spending

The Procter & Gamble Company (NYSE:PG) is included in our list of the best stocks to buy and hold for 20 years.

On January 22, 2026, The Procter & Gamble Company (NYSE:PG) reported mixed second-quarter 2026 results, which reflected the volatile health of the U.S. consumer sector. However, the results also highlight the company’s resilience at the premium end of its portfolio.

During the quarter, The Procter & Gamble Company (NYSE:PG) reported sales growth of 1%, bringing total sales to $22.21 billion, slightly below the $22.28 billion consensus. The weaker growth stems from softer U.S. spending and the lingering impact of a government shutdown, which together offset strong international growth. Three of the five categories recorded declines in sales volume, with Beauty the sole bright spot, remaining strong amid robust self-care demand. This comes despite consumers trading down on everyday staples.

On an adjusted basis, earnings surpassed analyst expectations, with core EPS of $1.88 compared to $1.86, thanks to pricing actions and mix benefits. However, core gross margin recorded a decline for a fifth straight quarter amid tariff pressures and investments in value-oriented pack sizes.

Looking ahead, The Procter & Gamble Company (NYSE:PG) reiterated its full-year sales and profit guidance, expressing confidence in navigating a challenging macro backdrop. The company’s shares rose 2%, reflecting investor focus on earnings stability and improving international momentum despite the modest revenue miss.

The Procter & Gamble Company (NYSE:PG), a global consumer goods leader, sells branded household, personal care, and health products globally, thanks to its diversified portfolio spanning multiple everyday-use segments.

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