Yesterday, Colgate-Palmolive Company reported its financial performance for the third quarter of 2024, showcasing growth across multiple key metrics. The company’s net sales reached $5.033 billion, reflecting a 2.4% year-over-year (YoY) increase, with year-to-date net sales climbing to $15.156 billion, up 4.47% YoY. Colgate’s organic sales also saw strong growth, rising 6.8% in the quarter, on top of an 8.8% increase in the same period last year, fueled by a combination of volume growth and strategic pricing adjustments.
CEO Noel Wallace expressed satisfaction with the quarterly performance, noting that Colgate’s continued emphasis on expanding household penetration contributed to increased category growth and market share. The company saw its sixth consecutive quarter of gross margin expansion, with corresponding gains in operating profit, net income, and earnings per share. Colgate’s advertising investments rose by 16% during the quarter to support innovation across various price points, with a commitment to sustained advertising spending through the year’s end to reinforce brand strength.
Segment-wise, the Oral, Personal, and Home Care division recorded $3.907 billion in sales for Q3, a 1.3% YoY increase, with year-to-date sales reaching $11.814 billion, up 4.3% YoY.
By region, in the third quarter of 2024, the Oral Care, Personal Care, and Home Care segment recorded net sales of $744 million in Europe, up 7.8% year-over-year. Net sales in the Asia-Pacific region were $725 million, reflecting a 6.3% increase year-over-year. However, North America and Latin America saw declines, with net sales of $1.004 billion and $1.156 billion, down 2% and 3.2% year-over-year, respectively.
