New York, Jan 21, 2026, 11:55 ET — Regular session
Procter & Gamble shares fell 0.7% on Wednesday as investors positioned ahead of the consumer-products maker’s quarterly results due Thursday. The stock was down $1.06 at $145.94 in late-morning trade, after swinging between $145.43 and $147.38.
The report matters because P&G is an early read on how much pricing power big household brands still have, and whether shoppers are pushing back. In a market that has started to flinch at policy headlines, traders have been quick to hide in “defensive” names — and just as quick to leave.
Stocks more broadly steadied on Wednesday after Tuesday’s sharp selloff, which followed President Donald Trump’s tariff threats tied to his renewed push to acquire Greenland, Reuters reported. “But we’re certainly concerned about reigniting a trade war,” Art Hogan, chief market strategist at B Riley Wealth, said. The S&P 500 ETF SPY rose 0.7% while the consumer staples ETF XLP fell 0.5%. 1
P&G is scheduled to host its fiscal second-quarter earnings conference call on Jan. 22 at 8:30 a.m. ET, according to its investor relations events calendar. The focus will be on volumes, pricing and any tweak to the full-year view. 2
The stock had climbed 1.7% on Tuesday to close at $147.00, even as the broader market fell hard, according to MarketWatch. P&G outperformed several consumer and personal care peers on the day and remains well below its 52-week high of $179.99. 3
Analysts tracked by Zacks see fiscal second-quarter revenue of about $22.23 billion, up 1.6% from a year earlier, and earnings of $1.87 per share, down 0.5%, according to a Zacks preview carried by Finviz. Those are small moves, which can still be a problem for a stock that trades like a steady compounder. 4
In its last quarterly update in October, P&G kept its fiscal 2026 outlook intact, including sales growth of 1% to 5% and “core” earnings per share — an adjusted profit figure the company uses — of $6.83 to $7.09. It also flagged an after-tax commodity cost headwind and higher costs from tariffs for the full year, and defined “organic sales” as growth excluding currency and acquisitions and divestitures. 5
Dividend watchers also have a near-term calendar item: P&G said its board declared a quarterly dividend of $1.0568 per share, payable on or after Feb. 17 to shareholders of record on Jan. 23, a filing showed. 6
P&G’s results tend to echo across the household and personal care aisle, where investors have been leaning on predictable cash flows when the macro backdrop turns messy. This time, the market wants the boring details — whether the company can protect margins without leaning too hard on price.
The risk is that management strikes a more cautious tone on demand, or signals heavier discounting to defend share. Currency swings and input-cost moves can also whipsaw guidance, even for a company built to be steady.
Next up is Thursday’s quarterly report and the 8:30 a.m. ET conference call on Jan. 22, where investors will look for any shift in the full-year outlook and what P&G says about pricing, promotions and tariff-related costs.
