# P&G Raises FY27 After-Tax Commodity Cost Headwind to About $1.4 Billion, Holds Core EPS By John Kim Canonical URL: https://www.tokenpost.com/news/business/38826 Published: 2026-10-23T08:23:53.000Z Updated: 2026-10-23T08:23:53.000Z Section: Business > The increase is roughly $400 million from July’s estimate, while the company kept its fiscal 2027 core EPS guidance at $6.89 to $7.11 per share. Procter & Gamble raised its fiscal 2027 after-tax commodity cost headwind by roughly $400 million to about $1.4 billion, while keeping its core EPS range unchanged, pointing to higher input costs. The new estimate compares with about $1 billion in the company’s July outlook. Raw materials, energy and transportation costs are driving the expected increase. P&G maintained its core EPS guidance at $6.89 to $7.11 per share, a range equivalent to flat-to-3% growth from fiscal 2026 core EPS of $6.89. P&G expects a $300 million after-tax hit from higher net interest expense. It also projects $150 million from reduced non-operating income and $50 million from unfavorable exchange rates. Together with the commodity-cost headwind, those pressures are expected to reduce core EPS by $0.79 per share and weigh 11% on core EPS growth. The company kept its fiscal 2027 organic-sales growth outlook at 1% to 3% and set all-in sales growth guidance at 2% to 4%, reflecting the Thorne acquisition as of Oct. 1. Organic sales exclude the effects of foreign exchange and acquisitions and divestitures; the outlook also includes a 30- to 50-basis-point headwind from brand, product-form and go-to-market discontinuations. The sales ranges were part of the fiscal outlook in P&G’s [first-quarter results](). For the quarter ended Sept. 30, organic sales rose 4%, while core gross margin fell 150 basis points and core operating margin declined 80 basis points year over year. Core EPS is a non-GAAP measure that supplements diluted EPS. ## Links in this article - [first-quarter results](https://www.tokenpost.com/news/business/38396)