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.

We expect capital spending will be 4.5%-5.5% of sales, and we are forecasting adjusted free cash flow productivity at 85%-90% for the year.

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.

We expect to pay over $10 billion in dividends and to repurchase approximately $5 billion in common stock, combined a plan to return $15 billion of cash to share owners in fiscal 2027.

P&G now expects a commodity cost headwind of approximately $1.4 billion after tax driven by higher raw materials, energy and transportation costs, $300 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.

This outlook includes a cost headwind of approximately $1 billion after tax, driven by higher raw materials, energy transportation costs, and other premiums resulting from the conflict in the Middle East.

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 continues to expect free cash flow productivity of 85% to 90% and expects to pay over $10 billion in dividends and to repurchase approximately $5 billion of common shares in fiscal 2027.

We expect to pay over $10 billion in dividends and to repurchase approximately $5 billion in common stock, combined a plan to return $15 billion of cash to share owners in fiscal 2027.

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 now expects a core effective tax rate to be in the range of 20% to 21% in fiscal 2027.

We estimate that our core effective tax rate will be approximately 20%, in line with prior year.

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

P&G also maintained its fiscal 2027 core earnings per share growth to be 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 approximately one and a half percent.

Our bottom-line outlook is broadly consistent with top line, with core EPS growth of 0%-3% versus fiscal 2026 core EPS of $6.89. This guidance equates to a range of $6.89-$7.11 per share, $7 at the center of the range.

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 $0.79 per share for fiscal 2027, or an eleven percent drag on core EPS growth.

Combined input costs, foreign exchange rate items, and items below the operating line will be roughly a $1.4 billion after tax of earnings headwind in fiscal 2027 or $0.56 per share, 8% of fiscal 2026 core EPS.

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

P&G now expects a commodity cost headwind of approximately $1.4 billion after tax driven by higher raw materials, energy and transportation costs, $300 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.

We expect a foreign exchange headwind of approximately $50 million after tax and approximately $150 million of higher net interest expense after tax.

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 continues to expect free cash flow productivity of 85% to 90% and expects to pay over $10 billion in dividends and to repurchase approximately $5 billion of common shares in fiscal 2027.

We expect capital spending will be 4.5%-5.5% of sales, and we are forecasting adjusted free cash flow productivity at 85%-90% for the 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.

Combined input costs, foreign exchange rate items, and items below the operating line will be roughly a $1.4 billion after tax of earnings headwind in fiscal 2027 or $0.56 per share, 8% of fiscal 2026 core EPS.

P&G now expects a commodity cost headwind of approximately $1.4 billion after tax driven by higher raw materials, energy and transportation costs, $300 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.

We expect a foreign exchange headwind of approximately $50 million after tax and approximately $150 million of higher net interest expense after tax.

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 now expects a commodity cost headwind of approximately $1.4 billion after tax driven by higher raw materials, energy and transportation costs, $300 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.

We are also forecasting $150 million after tax of lower non-operating income.

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.

Included in the organic sales growth guidance is a headwind of 30 to 50 basis points from brand, product form and go-to-market discontinuations.

Recall our guidance includes a 30-50 basis point headwind from brand, product form, and go-to-market restructuring.

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

We expect to pay over $10 billion in dividends and to repurchase approximately $5 billion in common stock, combined a plan to return $15 billion of cash to share owners in fiscal 2027.

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 fiscal year 2027 diluted net earnings per share growth in the range of one to five percent versus fiscal 2026 GAAP EPS of $6.62.

Taken together, our guidance range is for organic sales growth of 1%-3% versus prior year.

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

P&G expects fiscal year 2027 all-in sales growth in the range of one to three percent versus the prior year.