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Jun 30, 2024
Colgate Q2 2024 Earnings Report
Colgate's Q2 2024 results announced with net sales and organic sales increasing, alongside a rise in GAAP EPS and gross profit margin.
Key Takeaways
Colgate-Palmolive reported a 4.9% increase in net sales and a 9.0% increase in organic sales for Q2 2024. GAAP EPS increased by 48% to $0.89, and the GAAP gross profit margin increased by 280 basis points to 60.6%. The company has updated its financial guidance for the full year 2024.
Net sales increased by 4.9%, and organic sales increased by 9.0%.
GAAP EPS increased by 48% to $0.89; Base Business EPS increased by 18% to $0.91.
GAAP Gross profit margin increased by 280 basis points to 60.6%; Base Business Gross profit margin increased by 300 basis points to 60.8%.
Colgate's leadership in toothpaste continued with its global market share at 41.5% year to date.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Colgate-Palmolive updated its financial guidance for full year 2024, expecting net sales growth of 2% to 5%, including a mid-single-digit negative impact from foreign exchange. The company is raising its organic sales growth guidance to 6% to 8%. On a non-GAAP (Base Business) basis, the Company increased its earnings per share growth guidance to 8% to 11%.
Positive Outlook
- The Company still expects net sales growth of 2% to 5% including a mid-single-digit negative impact from foreign exchange.
- The Company is raising its organic sales growth guidance to 6% to 8% (versus 5% to 7% previously).
- On a GAAP basis, the Company still expects gross profit margin expansion, increased advertising investment and double-digit earnings per share growth.
- On a non-GAAP (Base Business) basis, the Company still expects gross profit margin expansion and increased advertising investment
- The Company increased its earnings per share growth guidance to 8% to 11% (versus mid to high-single-digit previously).
Challenges Ahead
- Mid-single-digit negative impact from foreign exchange on net sales growth.
- Unspecified risks and uncertainties that could cause actual results to differ materially from forward-looking statements.
Revenue & Expenses
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Historical Earnings Impact
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Avg. Return Before/After Earnings
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