Consumer goods giant Procter & Gamble reported fourth-quarter fiscal earnings on Wednesday that fell short of market expectations, while also providing investors with an update on its ongoing restructuring plan and the progress of job cuts.

For the quarter ending June 30, Procter & Gamble recorded net sales of $21.2 billion, a 2% increase year-over-year, but below the analyst consensus of $21.38 billion. Organic sales, which strip out the effects of currency fluctuations and acquisitions, were flat compared to the same period last year, and overall sales volume also remained unchanged.

Net income attributable to the company for the quarter was $3.04 billion, or $1.26 per share, a 15% decline from $3.62 billion in the same period a year earlier. Excluding items such as restructuring costs, core earnings per share were $1.43, slightly above the market estimate of $1.41.

By business segment, the beauty division performed well, with sales volume rising 3%, supported by steady demand for its Pantene shampoo and SK-II skincare products. The fabric and home care segment saw a modest 1% volume increase. However, volume fell by 1% in both the baby, feminine, and family care segment and the grooming business, while weak oral care product sales dragged the healthcare segment to a 3% volume decline.

Procter & Gamble CEO Shailesh Jejurikar characterized the past fiscal year as a "foundation-building year," stating the company is driving transformation in a "highly challenging geopolitical and economic environment." The restructuring plan, announced in June 2025, is being implemented, aiming to cut approximately 7,000 non-manufacturing positions globally, representing about 15% of its non-production workforce. The company has already absorbed more than half of the related restructuring costs this fiscal year, with the remainder to be accounted for by fiscal 2027.

Looking ahead to fiscal 2027, Procter & Gamble forecasts core earnings per share in the range of $6.89 to $7.11, with total sales growth of 1% to 3%. The company estimates that costs for raw materials, energy, and transportation will create a headwind of approximately $1 billion on an after-tax basis. Jejurikar also announced that he will assume the role of Board Chairman starting August 1, succeeding Jon Moeller, who is retiring.