Procter & Gamble posted Q2 FY26 net sales of $22.2 billion, up 1% year over year, as strength in beauty helped offset ongoing volume pressure across select categories and regions.
Grooming net sales totaled $1.79 billion. Beauty segment organic sales rose 4%, with net sales reaching $4.04 billion, reinforcing the category’s role as a growth engine for the CPG giant.
By category:
- Hair Care: Organic sales increased mid-single digits, driven by volume growth and innovation-led pricing in Latin America and Europe, partially offset by unfavorable geographic mix.
- Personal Care: Organic sales rose mid-single digits, fueled by innovation-driven volume and pricing gains in North America, with geographic mix headwinds.
- Skin Care: Organic sales grew low single digits, supported by premium product mix and pricing in Greater China, partially offset by volume declines.
Outside of beauty and grooming, organic sales were flat year over year, as innovation-led pricing in North America and Europe was offset by lower volumes.
“Our results in the second quarter keep us on track to deliver within our fiscal year guidance ranges in a challenging consumer and geopolitical environment,” said Shailesh Jejurikar, President and CEO. “We have confidence in our plans to deliver stronger results in the second half and remain committed to reinventing P&G to create the CPG company of the future.”
Outlook unchanged:
P&G reaffirmed its FY26 all-in sales growth guidance of 1% to 5%, with foreign exchange and M&A expected to add ~1 point to reported sales. The company also maintained its organic sales growth outlook of flat to up 4% year over year.
Why it matters: Innovation-led pricing, premiumization—especially in skin care—and regional resilience in hair and personal care continue to anchor P&G’s Beauty momentum as the company navigates a cautious global consumer environment.
