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Sep 30, 2023
Colgate Q3 2023 Earnings Report
Net sales and EPS increased, driven by growth across divisions and categories.
Key Takeaways
Colgate-Palmolive reported strong Q3 2023 results with a 10.5% increase in net sales and a 16% increase in EPS. Organic sales grew by 9.0%, with volume improving sequentially. The company raised its full-year financial guidance, expecting continued growth and profitability.
Net sales increased by 10.5% and organic sales grew by 9.0%.
GAAP EPS and Base Business EPS both increased by 16% to $0.86.
GAAP Gross profit margin increased 130 basis points to 58.5%.
The Company raised its financial guidance for full year 2023.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company now expects net sales growth to be 6% to 8%, including the benefit from our acquisitions of pet food businesses and a low-single-digit negative impact from foreign exchange. The Company increased its organic sales growth guidance to 7% to 8%.
Positive Outlook
- Net sales growth expected to be 6% to 8%.
- Organic sales growth guidance increased to 7% to 8%.
- Still expects gross profit margin expansion.
- Still expects increased advertising investment.
- Increased its earnings-per-share growth guidance to high-single digits.
Challenges Ahead
- Low-single-digit negative impact from foreign exchange.
- Significantly higher raw and packaging material costs.
- Organic sales declines in the Greater China region
- Unfavorable mix due to private label sales resulting from the previously disclosed acquisitions of pet food businesses
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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