Procter & Gamble (PG) official guidance

Capital spending is estimated to be in the range of four and a half to five and a half percent of fiscal 2027 net sales.

The Company estimates a headwind of approximately $1 billion after-tax driven by higher raw materials, energy and transportation costs, $150 million after-tax from higher net interest expense, $150 million after-tax from lower non-operating income and $50 million after-tax from unfavorable foreign exchange rates.

P&G expects adjusted free cash flow productivity of 85% to 90% and expects to pay around $10 billion in dividends and to repurchase approximately $5 billion of common shares in fiscal year 2027.

P&G expects its core effective tax rate to be approximately 20% in fiscal 2027, in-line with fiscal 2026.

P&G expects its fiscal 2027 core earnings per share growth in the range of in-line to three percent versus fiscal 2026 core EPS of $6.89. This outlook equates to a range of $6.89 to $7.11 per share, with a mid-point estimate of $7.00, or an increase of one and a half percent.

Combined, these impacts equate to a headwind of $0.56 per share for fiscal 2027, or an eight percent drag on core EPS growth.

The Company estimates a headwind of approximately $1 billion after-tax driven by higher raw materials, energy and transportation costs, $150 million after-tax from higher net interest expense, $150 million after-tax from lower non-operating income and $50 million after-tax from unfavorable foreign exchange rates.

P&G expects adjusted free cash flow productivity of 85% to 90% and expects to pay around $10 billion in dividends and to repurchase approximately $5 billion of common shares in fiscal year 2027.

The Company estimates a headwind of approximately $1 billion after-tax driven by higher raw materials, energy and transportation costs, $150 million after-tax from higher net interest expense, $150 million after-tax from lower non-operating income and $50 million after-tax from unfavorable foreign exchange rates.

The Company estimates a headwind of approximately $1 billion after-tax driven by higher raw materials, energy and transportation costs, $150 million after-tax from higher net interest expense, $150 million after-tax from lower non-operating income and $50 million after-tax from unfavorable foreign exchange rates.

The Company also expects organic sales growth in the range of one to three percent versus prior year.

P&G expects adjusted free cash flow productivity of 85% to 90% and expects to pay around $10 billion in dividends and to repurchase approximately $5 billion of common shares in fiscal year 2027.

We expect to pay around $10 billion in dividends and to repurchase approximately $5 billion in common stock, combined a plan to return roughly $15 billion of cash to share owners in fiscal 2026.

We expect to pay around $10 billion in dividends and to repurchase approximately $5 billion in common stock, combined a plan to return roughly $15 billion of cash to shareholders in fiscal 2026.

P&G continues to expect adjusted free cash flow productivity of 85% to 90% and expects to pay around $10 billion in dividends and to repurchase approximately $5 billion of common shares in fiscal 2026.

We expect to pay around $10 billion in dividends and to repurchase approximately $5 billion in common stock, combined a plan to return roughly $15 billion of cash to share owners in fiscal 2026.

P&G continues to expect adjusted free cash flow productivity of 85% to 90% and expects to pay around $10 billion in dividends and to repurchase approximately $5 billion of common shares in fiscal 2026.

We expect to pay around $10 billion in dividends and to repurchase approximately $5 billion in common stock, combined a plan to return roughly $15 billion of cash to shareholders in fiscal 2026.

P&G continues to expect adjusted free cash flow productivity of 85% to 90% and expects to pay around $10 billion in dividends and to repurchase approximately $5 billion of common shares in fiscal 2026.

P&G continues to expect a core effective tax rate to be in the range of 20% to 21% in fiscal 2026.

Below the operating line, we continue to expect modestly higher interest expense versus last fiscal year and a core effective tax rate in the range of 20%-21% for fiscal 2026, combined a $250 million after-tax headwind to earnings growth.

P&G continues to expect a core effective tax rate to be in the range of 20% to 21% in fiscal 2026.

Below the operating line, we continue to expect modestly higher interest expense versus last fiscal year and a core effective tax rate in the range of 20% to 21% for fiscal 2026, combined a $250 million after-tax headwind to earnings growth.

P&G continues to expect a core effective tax rate to be in the range of 20% to 21% in fiscal 2026.

This outlook equates to a range of $6.83 to $7.09 per share.

Our bottom-line outlook is for core EPS growth of inline to plus 4% versus prior year. This equates to a range of $6.83–$7.09 per share.

This outlook equates to a range of $6.83 to $7.09 per share, with a mid-point estimate of $6.96, or an increase of two percent.

On the bottom line, core EPS growth in line to plus 4%, which equates to a range of $6.83 to $7.09 per share or $6.96, up 2% in the center of the range.

This outlook equates to a range of $6.83 to $7.09 per share, with a mid-point estimate of $6.96, or an increase of 2%.

Foreign exchange is forecasted to be a tailwind of approximately $200 million after tax.

This guidance includes commodity costs roughly in line with prior year and a foreign exchange tailwind of approximately $200 million after tax.

Foreign exchange is now forecasted to be a tailwind of approximately $200 million after tax, and higher costs from tariffs are estimated at approximately $400 million after tax for fiscal 2026.

This outlook includes a commodity cost headwind of approximately $100 million after tax and a foreign exchange tailwind of approximately $300 million after tax.

The Company also continues to expect favorable foreign exchange rates will be a tailwind of approximately $300 million after tax.

P&G continues to expect adjusted free cash flow productivity of 85% to 90% and expects to pay around $10 billion in dividends and to repurchase approximately $5 billion of common shares in fiscal 2026.

We continue to forecast adjusted free cash flow productivity in the range of 85%-90% for the year, and this includes an increase in capital spending as we add capacity in several categories that we incur the cash costs from the restructuring work.

P&G continues to expect adjusted free cash flow productivity of 85% to 90% and expects to pay around $10 billion in dividends and to repurchase approximately $5 billion of common shares in fiscal 2026.

We are forecasting adjusted free cash flow productivity in the range of 85% to 90% for the year.

P&G continues to expect adjusted free cash flow productivity of 85% to 90% and expects to pay around $10 billion in dividends and to repurchase approximately $5 billion of common shares in fiscal 2026.

Below the operating line, we continue to expect modestly higher interest expense versus last fiscal year and a core effective tax rate in the range of 20%-21% for fiscal 2026, combined a $250 million after-tax headwind to earnings growth.

Below the operating line, we continue to expect modestly higher interest expense versus last fiscal year and a core effective tax rate in the range of 20% to 21% for fiscal 2026, combined a $250 million after-tax headwind to earnings growth.

The Company continues to expect a net headwind of roughly $250 million after-tax from modestly higher net interest expense and a higher core effective tax rate versus the prior year.

Below the operating line, we continue to expect modestly higher interest expense versus last fiscal year and a core effective tax rate in the range of 20%-21% for fiscal 2026, combined a $250 million after-tax headwind to earnings growth.

The Company continues to expect a net headwind of roughly $250 million after-tax from modestly higher net interest expense and a higher core effective tax rate versus the prior year.

Below the operating line, we continue to expect modestly higher interest expense versus last fiscal year and a core effective tax rate in the range of 20% to 21% for fiscal 2026, combined a $250 million after-tax headwind to earnings growth.

The Company continues to expect a net headwind of roughly $250 million after-tax from modestly higher net interest expense and a higher core effective tax rate versus the prior year.

The Company also maintained its outlook for organic sales growth in the range of in-line to up four percent versus the prior year.

For fiscal 2026, we continue to expect organic sales growth of in line to plus 4%.

The Company also maintained its outlook for organic sales growth in the range of in-line to up four percent versus the prior year.

Organic sales growth of in line to plus 4%.

The Company also maintained its outlook for organic sales growth in the range of in-line to up four percent versus the prior year.

P&G continues to expect adjusted free cash flow productivity of 85% to 90% and expects to pay around $10 billion in dividends and to repurchase approximately $5 billion of common shares in fiscal 2026.

We expect to pay around $10 billion in dividends and to repurchase approximately $5 billion in common stock, combined a plan to return roughly $15 billion of cash to share owners in fiscal 2026.

P&G continues to expect adjusted free cash flow productivity of 85% to 90% and expects to pay around $10 billion in dividends and to repurchase approximately $5 billion of common shares in fiscal 2026.

We expect to pay around $10 billion in dividends and to repurchase approximately $5 billion in common stock, combined a plan to return roughly $15 billion of cash to shareholders in fiscal 2026.

P&G continues to expect adjusted free cash flow productivity of 85% to 90% and expects to pay around $10 billion in dividends and to repurchase approximately $5 billion of common shares in fiscal 2026.

Capital spending is estimated to be in the range of four to five percent of fiscal 2026 net sales.

Capital spending is estimated to be in the range of four to five percent of fiscal 2026 net sales.

P&G adjusted its outlook for fiscal 2026 diluted net earnings per share growth to be in the range of one percent to six percent from prior guidance of three percent to nine percent versus fiscal 2025 diluted net EPS of $6.51, reflecting higher non-core restructuring charges in the year.

P&G maintained its fiscal 2026 diluted net earnings per share growth to be in the range of 3% to 9% versus fiscal 2025 diluted net EPS of $6.51.

Collectively these impacts equate to a headwind of $0.19 per share for fiscal 2026.

Collectively these impacts equate to a headwind of $0.19 per share for fiscal 2026.

P&G maintained its guidance range for fiscal 2026 all-in sales growth to be in the range of one to five percent versus the prior year.

P&G maintained its guidance range for fiscal 2026 all-in sales growth to be in the range of one to five percent versus the prior year.

Our fiscal 2026 outlook continues to expect approximately $500 million before tax and higher costs from tariffs.

Foreign exchange is now forecasted to be a tailwind of approximately $200 million after tax, and higher costs from tariffs are estimated at approximately $400 million after tax for fiscal 2026.

Our fiscal 2026 outlook now includes approximately $500 million before tax in higher costs from tariffs.

P&G now expects a commodity cost headwind of approximately $100 million after tax and higher costs from tariffs of approximately $400 million after tax for fiscal 2026.

This includes an increase in capital spending as we add capacity in several categories and as we incur the cash costs from the restructuring work.

Global market growth for our portfolio footprint is around 2% on a value basis at the center of our guidance range.

P&G now expects a commodity cost headwind of approximately $100 million after tax and higher costs from tariffs of approximately $400 million after tax for fiscal 2026.