Colgate-Palmolive Beats Q3 Earnings Amid Market Share Gains And Margin Expansion, Raises 2024 Outlook

Colgate-Palmolive Company (NYSE:CL) reported third-quarter adjusted earnings per share of 91 cents, beating the street view of 89 cents. Quarterly sales of $5.033 billion (+2.4%) beat the street view of $5.003 billion, driven by a “healthy” balance of volume growth and higher pricing.

Colgate said in a press release that for the sixth consecutive quarter, the company has achieved gross margin expansion while also seeing increases in operating profit, net income, and earnings per share.

The GAAP gross profit margin rose by 260 basis points to reach 61.1%, while the base business gross profit margin increased by 270 basis points to 61.3%.

Geographically, sales increased by 8% in Europe, 6.3% in Asia Pacific, and ...