Summary by Moomoo AI
Colgate-Palmolive reported strong Q3 2024 results, with net sales increasing 2.4% to $5,033 million and organic sales growing 6.8%. Earnings per share rose 6% to $0.91 on a non-GAAP basis. The company saw volume growth of 3.7% and net selling price increases of 3.1%, partially offset by 4.4% negative foreign exchange impact.Gross profit margin expanded 270 basis points to 61.3% on a non-GAAP basis, driven by cost savings and higher pricing. Operating profit increased 5% to $1,080 million, with operating profit margin improving 50 basis points to 21.5% on a non-GAAP basis. The Oral, Personal and Home Care segment's organic sales grew 6.8%, while Hill's Pet Nutrition segment's organic sales increased 6.5%.Colgate-Palmolive maintained its leadership in the global toothpaste market with a 41.6% year-to-date share. The company expects continued volatility across categories due to challenging macroeconomic conditions but remains confident in its strategy of driving organic sales growth through innovation and expansion in faster-growing channels and markets.
