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Procter & Gamble (PG) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Oct 24, 2025
Procter & Gamble (PG) reported revenue of $22.4B for the first quarter fiscal 2026 (Q1 FY26), +3% from a year earlier and +7% from the quarter before. Operating margin was 26.2%, net earnings $4.8B (21.2% of revenue).
Procter & Gamble, Q1 FY26: revenue $22.4B (+3% year over year), operating margin 26.2%, net earnings $4.8B, operating cash flow $5.4B. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $22.4B | +7% | +3% |
| Operating profit | $5.9B | +34% | +1% |
| Net earnings | $4.8B | +31% | +20% |
| Operating cash flow | $5.4B | +8% | +26% |
| Free cash flow | $4.2B | +5% | +27% |
What changed
Revenue was $22.4B in Q1 FY26, up 3% year over year and up 7% from the previous quarter.
Operating profit was $5.9B, a 26.2% margin (down 0.5 points year over year). Of the extra revenue versus a year earlier, 9% reached operating profit, below the 27% margin then. Total costs grew 4% against revenue growth of 3%. Net earnings were $4.8B, up 20% year over year. The effective tax rate was 20.8%.
Operating cash flow was $5.4B (up 26% year over year), 113% of net earnings. Non-cash charges added back $0.76B of depreciation and amortization and $0.12B of share-based compensation. Capital expenditures of $1.2B left free cash flow of $4.2B.
Questions
What was Procter & Gamble's revenue in the first quarter fiscal 2026?
Procter & Gamble (PG) reported revenue of $22.4B for the first quarter fiscal 2026 (Q1 FY26), +3% from a year earlier and +7% from the quarter before.
Was Procter & Gamble profitable in the first quarter fiscal 2026?
Operating profit was $5.9B (26.2% of revenue) and net earnings $4.8B.
Source: Procter & Gamble 10-Q on SEC EDGAR.