Colgate-Palmolive: Q1 2024 Financials

Net sales for Happi Top 50 Company Colgate-Palmolive Company increased 6.2% in Q1 2024; organic sales increased by 9.8%.

 

Colgate said its leadership in toothpaste continued with its global market share at 41.3% year to date. 

 

Noel Wallace, chairman, president and CEO said the company delivered double-digit growth in operating profit, net income and earnings per share for the third consecutive quarter while still investing for the long-term health of our business.

 

“The strong gross and operating margin expansion in the quarter funded a 16% increase in advertising and we expect strong levels of brand investment over the balance of 2024,” said Wallace. “We also continued to invest behind building and scaling the capabilities needed to drive our growth going forward, in areas like innovation, digital, data and analytics, revenue growth management and marketing effectiveness.

The Colgate-Palmolive is raising its net sales growth guidance to 2% to 5% (versus 1% to 4% previously) including a mid-single-digit negative impact from foreign exchange (versus low-single-digit negative impact previously). The company is also raising its organic sales growth guidance to 5% to 7% (versus 3% to 5% previously).

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