P&G forecasts muted 2027 as tighter consumer spending hurt demand

P&G's overall fourth-quarter organic volumes were flat, falling in three of its five reported segments. Its pricier hair care and personal care products were once again a bright spot, with volumes rising 3% in the beauty category even as it kept prices broadly unchanged in the fourth quarter.

In contrast, rival Unilever posted its best quarter by volumes in over a decade as it shifts focus to beauty and wellness products.

The category has bucked broader spending weakness with consumers continuing to buy nice-to-have self-care items and giving companies the room to raise prices for newer launches for products such as shampoos and skin care products.

Procter & Gamble's fourth-quarter adjusted earnings per share of $1.43 narrowly beat estimates of $1.41. Its net sales rose 1.5% to $21.20 billion but missed expectations of $21.38 billion.