Procter & Gamble beats EPS estimates but misses revenue, CEO to become board chair.

Procter & Gamble reported quarterly earnings per share of $1.43, slightly above Wall Street's estimate of $1.41, but its revenue of $21.2 billion fell short of the expected $21.38 billion. The company experienced weak demand, with organic revenue flat due to consumers opting for cheaper alternatives. P&G's net income dropped compared to the previous year, and its shares fell over 3% in premarket trading. Looking ahead, P&G projects fiscal 2027 core earnings per share between $6.89 and $7.11 and sales growth of 1% to 3%, slightly below Wall Street expectations. Additionally, CEO Shailesh Jejurikar will become chair of the board starting August 1, replacing former CEO Jon Moeller.