| Quarter | Call date | Disclosure | Financial quality | Kept | Missed | |
|---|---|---|---|---|---|---|
| Q4'26 | July 29, 2026 | 6/12 | 1 high, 4 medium, 2 low flags | 3 | 2 | Call sheet → |
| Q3'26 | April 24, 2026 | 10/12 | 4 medium, 2 low flags | 4 | 0 | Call sheet → |
| Q2'26 | 2026-01-22 | 8/12 | 3 medium, 4 low flags | 4 | 0 | Call sheet → |
| Q1'26 | October 24, 2025 | 10/12 | 3 medium, 4 low flags | 3 | 0 | Call sheet → |
| Q4'25 | 2025-07-29 | 9/12 | 1 high, 4 medium, 3 low flags | 3 | 2 | Call sheet → |
| Marked | Status | Promise |
|---|---|---|
| Q4'26 | Pending | Complete 15% non‑manufacturing headcount reduction over two years Half of reductions already executed; timeline still FY27‑28. |
| Q4'26 | Delivered | Full‑year core EPS growth 0‑4% YoY Core EPS up 1% FY26, within guidance range. |
| Q4'26 | Delivered | Maintain dividend growth (3% increase YoY) Dividend increased from $2.5 bn (Q3) to $2.6 bn (Q4). |
| Q4'26 | Exceeded | Adjusted free cash flow productivity 85‑90% FY26 Q4 productivity jumped to 133% (though driven by working‑capital timing). |
| Q4'26 | Missed | Global market‑share improvement in FY26 Q4 described as “in line” with prior year; down from “improved” in Q3. |
| Q4'26 | Missed | Organic sales >3% YoY for FY26 Delivered only +1% YoY; Q4 flat after pull‑forward adjustment. |
| Q3'26 | Pending | Adjusted free cash flow productivity in range of 85-90% for year Q3 at 82% below target range, needs improvement in Q4 to hit guidance |
| Q3'26 | Delivered | Core EPS growth of in line to +4% vs prior year ($6.83 to $7.09) Range maintained but now expecting toward lower end due to cost timing |
| Q3'26 | Delivered | Around 2% global market growth for portfolio footprint on value basis Confirmed underlying market growth with positive trend over last 2 months |
| Q3'26 | Delivered | Continue to expect modestly higher interest expense vs last fiscal year Guidance unchanged and tracking as expected |
| Q3'26 | Delivered | Organic sales growth of in line to +4% for FY26 Guidance range maintained despite cost headwinds, though now expecting lower end |
| Q3'26 | Pending | Stronger results in second half enabling maintained fiscal 2026 guidance ranges Q3 delivered but now guiding Q4 lower than Q3, mixed delivery on back-half acceleration |
| Q2'26 | Pending | Innovation investments to drive trial and user growth Investments made but user growth still described as 'slow' or 'flat' |
| Q2'26 | Delivered | China momentum to continue Delivered 3% growth as expected, though decelerated from 5% in Q1 |
| Q2'26 | Delivered | Restructuring progress on track Confirmed 'perfectly on track on all elements' with org designs completed |
| Q2'26 | Delivered | Baby Care innovation bundle in fall First phase executed, second phase coming as promised |
| Q2'26 | Delivered | Tide EVO national launch preparation Now adding manufacturing capacity as promised, retailer demand exceeded expectations |
| Q2'26 | Pending | Return to share growth by end of fiscal year Language softened from 'expect' to 'objective' but still maintained |
| Q2'26 | Pending | Expect stronger growth in back half of fiscal year Maintained this promise from Q1, now hanging guidance maintenance on this claim |
| Q1'26 | Delivered | Restructuring 'perfectly on track on all elements' Andre confirmed execution proceeding as planned across all three components |
| Q1'26 | Delivered | Launch Tide evo national expansion Online launch of Free & Gentle completed, adding manufacturing capacity |
| Q1'26 | Exceeded | Sequential improvement in China business Delivered 5% growth vs 2% prior quarter, accelerating momentum |
| Q1'26 | Pending | $15 billion cash return to shareholders in fiscal '26 Q1 returned $3.8B, on pace for annual target |
| Q1'26 | Pending | Adjusted free cash flow productivity of 85% to 90% for fiscal '26 Q1 delivered 102%, above range but expected to normalize |
| Q1'26 | Pending | Core EPS growth in line to plus 4% ($6.83 to $7.09) for fiscal '26 Q1 delivered 3% growth, slightly below midpoint but tracking |
| Q1'26 | Pending | Organic sales growth of in line to plus 4% for fiscal '26 Q1 delivered 2%, at low end of range but within guidance |
| Q4'25 | Pending | Balance top and bottom line growth over 2-3 years FY25 delivered but FY26 guidance suggests continued pressure |
| Q4'25 | Missed | Maintain market share despite consumer pressure Lost 20bps global share in Q4, first notable decline |
| Q4'25 | Delivered | Focus on productivity to fund investments 560bps productivity in Q4, enabling restructuring investment |
| Q4'25 | Exceeded | China sequential improvement trajectory Turned positive at +2% with strong brand performance |
| Q4'25 | Delivered | Continue strong investment in innovation despite volatility Maintained innovation pipeline, 7 rising stars vs 3 last year |
| Q4'25 | Missed | Category growth rates return to 3-4% (Q3: 'We expect markets to return to the 3% to 4% growth rate') Now guiding flat to 3% for FY26, acknowledged sustained weakness |
Get free previews of our earnings-call research: the key changes, management scores, and questions worth investigating. Subscribe for full call sheets and deeper analysis.
Subscriptions are managed by Substack. If the form does not load, subscribe directly. Or follow the RSS feed.