Sector: Consumer Staples|Industry: Household & Personal Products|Market Cap: $75.78B|Employees: 34K
Colgate-Palmolive is a global company focused on oral, personal, home care, and pet nutrition products. They are a leader in oral care, with brands like Colgate, and also hold strong positions in liquid hand soap and pet nutrition. The company's products are sold in over 200 countries through various retail channels and direct-to-consumer.
Net sales increased 2.4% YoY to $5,033M, driven by a 3.7% volume increase and 3.1% net selling price increase, partially offset by a 4.4% negative impact from foreign exchange. Organic sales increased 6.8%.
Gross profit margin increased to 61.1% from 58.5% YoY, driven by cost savings from funding-the-growth initiatives, higher pricing, and favorable mix, partially offset by higher raw and packaging material costs.
Operating profit increased 4% YoY to $1,065M, driven by an increase in gross profit, partially offset by an increase in selling, general, and administrative expenses. Excluding charges related to the 2022 Global Productivity Initiative, operating profit increased 5% to $1,080M.