Dear External Business Partners:
Sharing an update on P&G’s Q1 2026 earnings and some important changes to our awards programs that recognize your valuable contributions.
Quarterly Earnings Update
These results align with our guidance and showcase our commitment to executing our integrated growth strategy in a challenging environment. We will continue to place the consumer at the center of everything we do, focusing on driving excellence across our portfolio, increasing investment in innovation, and delivering value to all stakeholders, including you, our partners.
Looking ahead, we see tremendous opportunities for collaboration. By leveraging our combined insights, we can drive superior performance across all categories. Your role is critical as we work to improve productivity and innovate in response to market and consumer demands. See press release for details.
Awards Program Updates
I’d like to take a moment, in addition to our earnings report, to share two significant changes to our awards programs that reflect our commitment to recognizing the outstanding performance of our External Business Partners.
First off, I’m thrilled to announce that we are transitioning the Excellence Awards to an annual cadence. Since its inception in 2008, these awards have recognized our top-performing external business partners by measuring performance across key metrics in commercial, operational, innovation, relationship and citizenship categories. With over 50,000 business partners in our network, making this change reinforces our commitment to continuous improvement and ensures that your exceptional contributions are celebrated more frequently.
Now, let’s talk about the Partner of the Year Awards – our most prestigious recognition. We are moving these to a three-year cycle, with the next ceremony set for 2027. This award honors partners that demonstrate transformational impact, deep collaboration and breakthrough results within our industry. By extending the timeframe, we can capture and celebrate substantial, long-lasting achievements that align with P&G’s strategic goals. This allows us to truly recognize the significant impact our award winners have on our collective success.
We remain fully committed to these awards and their strategic importance, recognizing your hard work and dedication to our business. More importantly, they’ll motivate us to strive for even greater excellence and gamechanging partnerships.
Together, we can elevate our partnerships and create meaningful value. Thank you for your continued partnership.
Chief Purchasing Officer
*See P&G’s investor website (www.pginvestor.com) for P&G's full Q1 earnings release issued October 24, 2025, the associated webcast presentation, definitions of non-GAAP measures and reconciliation to the most closely related GAAP measure, as well as cautionary information on forward-looking statements, which are based on current assumptions and subject to risks and uncertainties that may cause actual results to differ materially.