Wiki source code of Colgate-Palmolive Co

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5 = Summary =
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7 * Colgate-Palmolive Co is an $18.0B global consumer products company serving over 200 countries and territories.
8 * Colgate-Palmolive Co is a leader in Oral Care with global leadership in the toothpaste and manual toothbrush categories.
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10 [[image:CL0.png||height="321" width="720"]]
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13 Colgate-Palmolive Co is an $18.0B global consumer products company with ~~34,000 diverse and dedicated people serving over 200 countries and territories. Colgate-Palmolive Co is a leader in Oral Care with global leadership in the toothpaste and manual toothbrush categories according to market share data.
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18 [[image:CL1.jpg]]
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20 = Financial Highlights =
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22 **2nd Quarter 2023 Results**
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24 Jul 28, 2023; Colgate-Palmolive Company reported results for second quarter 2023.{{footnote}}https://investor.colgatepalmolive.com/news-releases/news-release-details/colgate-announces-2nd-quarter-2023-results{{/footnote}}
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27 * Net sales increased 7.5%; Organic sales increased 8.0% with growth in every division and in all four categories
28 * GAAP EPS declined 17% to $0.60; Base Business EPS increased 7% to $0.77
29 * GAAP Gross profit margin and Base Business Gross profit margin both increased 80 basis points to 57.8%, including a negative 70 basis point impact from private label sales resulting from the previously disclosed acquisitions of pet food businesses
30 * Net cash provided by operations was $1,457 million for the first six months of 2023
31 * Colgate’s leadership in toothpaste continued with its global market share at 40.5% year to date
32 * Colgate’s leadership in manual toothbrushes continued with its global market share at 30.4% year to date
33 * The Company updated its financial guidance for full year 2023
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35 **North America (20% of Company Sales)**
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37 Organic sales growth in home care and personal care was partially offset by organic sales declines in oral care.
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39 In the United States, Colgate's share of the toothpaste market is 33.9% year to date and its share of the manual toothbrush market is 41.0% year to date.
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41 The increase in Operating profit as a percentage of Net sales was primarily due to higher pricing and cost savings from the Company’s funding-the-growth initiatives, partially offset by higher raw and packaging material costs.
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44 **Latin America (24% of Company Sales)**
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46 Organic sales growth was led by Argentina, Mexico, Brazil and Colombia.
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48 The increase in Operating profit as a percentage of Net sales was primarily due to higher pricing and cost savings from the Company’s funding-the-growth initiatives, partially offset by higher raw and packaging material costs and a value-added tax refund in the second quarter of 2022.
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51 **Europe (14% of Company Sales)**
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53 Organic sales growth was led by the United Kingdom and Germany.
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55 The decrease in Operating profit as a percentage of Net sales was primarily due to significantly higher raw and packaging material costs and increased advertising investment, partially offset by higher pricing, cost savings from the Company’s funding-the-growth initiatives, favorable mix and lower amortization expenses.
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58 **Asia Pacific (14% of Company Sales)**
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60 Organic sales growth led by India, the Philippines and Australia was partially offset by organic sales declines in the Greater China region.
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62 The increase in Operating profit as a percentage of Net sales was primarily due to cost savings from the Company's funding-the-growth initiatives, decreased advertising investment, higher pricing and lower overhead expenses, partially offset by significantly higher raw and packaging material costs.
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65 **Africa/Eurasia (6% of Company Sales)**
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67 Organic sales growth was led by the Eurasia region, Türkiye and South Africa.
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69 The increase in Operating profit as a percentage of Net sales was primarily due to higher pricing, cost savings from the Company’s funding-the-growth initiatives and lower overhead expenses, partially offset by significantly higher raw and packaging material costs, which included foreign exchange transaction costs, and increased advertising investment.
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72 **Hill's Pet Nutrition (22% of Company Sales)**
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74 Organic sales growth led by the United States and Europe was partially offset by organic sales declines in Australia.
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76 The decrease in Operating profit as a percentage of Net sales was primarily due to significantly higher raw and packaging material costs, unfavorable mix due to private label sales resulting from the previously disclosed acquisitions of pet food businesses and increased advertising investment, partially offset by higher pricing, cost savings from the Company’s funding-the-growth initiatives and lower overhead expenses.
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79 == Full year 2022 Results ==
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81 Worldwide Net sales were $17,967 in 2022, up 3.0% from 2021, due to net selling price increases of 9.5%, partially offset by volume declines of 2.0% and negative foreign exchange of 4.5%.
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84 Net sales in the Oral, Personal and Home Care product segment were $14,254 in 2022, up 1.0% from 2021, due to net selling price increases of 9.0%, partially offset by volume declines of 3.5%,
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87 The Company’s share of the global toothpaste market was 39.8% for full year 2022, up 0.5 share points from full year 2021, and its share of the global manual toothbrush market was 31.7% for full year 2022, up 0.7 share points from full year 2021. Full year 2022 market shares in toothpaste were up in Europe and were flat in North America, Latin America, Asia Pacific and Africa/Eurasia versus full year 2021.
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90 Net sales for Hill’s Pet Nutrition were $3,713 in 2022, an increase of 12.0% from 2021, driven by volume growth of 4.0% and net selling price increases of 11.5%, partially offset by negative foreign exchange of 3.5%. Acquisitions contributed 2.5% to volume. Organic sales for Hill’s Pet Nutrition increased 13.0% in 2022.
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93 Worldwide Gross profit decreased 1% to $10,248 in 2022 from $10,375 in 2021, reflecting a decrease of $452 resulting from lower Gross profit margin and an increase of $325 resulting from higher Net sales.
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96 Selling, general and administrative expenses increased 2% to $6,565 in 2022 from $6,407 in 2021. Selling, general and administrative expenses in 2022 included charges resulting from the 2022 Global Productivity Initiative. Excluding charges resulting from the 2022 Global Productivity Initiative, Selling, general and administrative expenses increased to $6,560 in 2022 from $6,407 in 2021, reflecting higher overhead expenses of $177 and decreased advertising investment of $24.
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99 Interest (income) expense, net was $153 in 2022 compared to $175 in 2021. In 2021, Interest (income) expense, net included a loss on the early extinguishment of debt. Excluding the loss on the early extinguishment of debt, Interest (income) expense, net was $153 in 2022 compared to $100 in 2021, primarily due to higher average interest rates on debt and higher debt balances.
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102 Net income attributable to Colgate-Palmolive Company was $1,785, or $2.13 per share on a diluted basis, in 2022, a decrease from $2,166, or $2.55 per share on a diluted basis, in 2021. Net income attributable to Colgate-Palmolive Company decreased 8% to $2,493 in 2022 from $2,719 in 2021, and Earnings per common share on a diluted basis decreased 7% to $2.97 in 2022 from $3.21 in 2021.
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106 [[image:CL2.png]]
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108
109 = Company Overview =
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111 The company operate in two product segments: Oral, Personal and Home Care; and Pet Nutrition. Colgate-Palmolive is a leader in Oral Care with global leadership in the toothpaste and manual toothbrush categories according to market share data. The company sell its toothpastes under brands such as Colgate, Darlie, elmex, hello, meridol, Sorriso and Tom’s of Maine, its toothbrushes under brands such as Colgate, Darlie, elmex and meridol and its mouthwashes under brands such as Colgate, elmex and meridol. The company's Oral Care business also includes pharmaceutical products for dentists and other oral health professionals.{{footnote}}https://fintel.io/doc/sec-colgate-palmolive-co-21665-10k-2023-february-16-19404-9415{{/footnote}}
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114 Colgate-Palmolive is a leader in many product categories of the Personal Care market with global leadership in liquid hand soap, according to market share data, which the company sell under brands such as Palmolive, Protex and Softsoap. The company's Personal Care products also include Irish Spring, Palmolive and Protex bar soaps, Irish Spring, Palmolive, Sanex and Softsoap shower gels, Lady Speed Stick, Sanex, Speed Stick and Tom’s of Maine deodorants and antiperspirants, EltaMD, Filorga and PCA SKIN skin health products and Palmolive shampoos and conditioners.
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117 The company manufacture and market a wide array of products for the Home Care market, including Ajax, Axion and Palmolive dishwashing liquids and Ajax, Fabuloso and Murphy household cleaners. Colgate-Palmolive is a market leader in fabric conditioners with leading brands, including Suavitel in Latin America, Soupline in Europe, and Cuddly in the South Pacific, according to market share data.
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120 Sales of Oral, Personal and Home Care products accounted for 43%, 19% and 17%, respectively, of its total worldwide Net sales in 2022. Geographically, Oral Care is a significant part of its business in Asia Pacific, comprising approximately 82% of Net sales in that region for 2022.
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123 Through its Hill’s Pet Nutrition segment (“Hill’s” or “Pet Nutrition”), Colgate-Palmolive is a world leader in specialty pet nutrition products for dogs and cats with products marketed in over 80 countries and territories worldwide. Hill’s markets pet foods primarily under two brands. Hill’s Science Diet, which is called Hill’s Science Plan in Europe, is a range of products for everyday nutritional needs. Hill’s Prescription Diet is a range of therapeutic pet foods to help nutritionally support dogs and cats in various different stages of health. Sales of Pet Nutrition products accounted for 21% of its total worldwide Net sales in 2022.
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126 [[image:CL3.png]]
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129 == Brands ==
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131 Colgate-Palmolive brands are used by millions of homes around the world.{{footnote}}https://www.colgatepalmolive.com/en-us/brands{{/footnote}}
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134 (% style="width:715px" %)
135 (% class="info" %)|(% style="width:186px" %)**Oral Care**|(% style="width:188px" %)**Personal Care**|(% style="width:178px" %)**Home Care**|(% style="width:160px" %)**Pet Care**
136 |(% style="width:186px" %)Colgate|(% style="width:188px" %)Palmolive|(% style="width:178px" %)Suavitel|(% style="width:160px" %)Hill's Pet Nutrition
137 |(% style="width:186px" %)Sorriso|(% style="width:188px" %)Protex|(% style="width:178px" %)Murphy Oil Soap|(% style="width:160px" %)
138 |(% style="width:186px" %)Tom's of Maine|(% style="width:188px" %)Sanex|(% style="width:178px" %)Palmolive Dish Soap|(% style="width:160px" %)
139 |(% style="width:186px" %)elmex|(% style="width:188px" %)Softsoap|(% style="width:178px" %)Softlan|(% style="width:160px" %)
140 |(% style="width:186px" %)hello|(% style="width:188px" %)Speed Stick|(% style="width:178px" %)Ajax|(% style="width:160px" %)
141 |(% style="width:186px" %) |(% style="width:188px" %)Lady Speed Stick|(% style="width:178px" %)Fleecy|(% style="width:160px" %)
142 |(% style="width:186px" %) |(% style="width:188px" %)Irish Spring|(% style="width:178px" %)Pinho Sol|(% style="width:160px" %)
143 |(% style="width:186px" %) |(% style="width:188px" %)Tom's of Maine|(% style="width:178px" %)Axion|(% style="width:160px" %)
144 |(% style="width:186px" %) |(% style="width:188px" %)PCA SKIN|(% style="width:178px" %)Sta-soft|(% style="width:160px" %)
145 |(% style="width:186px" %) |(% style="width:188px" %)Filorga|(% style="width:178px" %)Fabuloso|(% style="width:160px" %)
146 |(% style="width:186px" %) |(% style="width:188px" %)eltaMD Skin Care|(% style="width:178px" %)Soupline|(% style="width:160px" %)
147 |(% style="width:186px" %) |(% style="width:188px" %)DanKlorix|(% style="width:178px" %) |(% style="width:160px" %)
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149 == Company History ==
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151 Colgate-Palmolive Co started as small soap and candle business by William Colgate{{footnote}}https://www.colgatepalmolive.com/en-us/who-we-are/history{{/footnote}}
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154 |**Year**|**Milestone**
155 |1806|William Colgate starts a starch, soap and candle business on Dutch Street in New York City.
156 |1820|Colgate establishes a starch factory in Jersey City, New Jersey.
157 |1984|B.J. Johnson opens a soap factory in Milwaukee, Wisconsin, which later becomes the Palmolive Company.
158 |1872|Peet brothers establish a soap company in Kansas City, Kansas where they make Crystal White soap. Cashmere Bouquet, the first milled perfumed toilet soap, is registered as a Colgate trademark.
159 |1898|B.J. Johnson Soap Co. introduces Palmolive Soap. Today, the Palmolive equity is sold in over 88 countries in 54 variants.
160 |1914|Colgate establishes its first international subsidiary in Canada.
161 |1926|Soap manufacturers Palmolive and Peet merge to become Palmolive-Peet Company.
162 |1928|Colgate merges with Palmolive-Peet to become Colgate-Palmolive-Peet Company.
163 |1930|On March 13th, Colgate is first listed on the New York Stock Exchange.
164 |1953|Colgate-Palmolive Company becomes the company’s official name.
165 |1956|Colgate opens corporate headquarters at 300 Park Avenue in New York City.
166 |1972|Colgate acquires Hoyt Laboratories, which later becomes Colgate Oral Pharmaceuticals.
167 |1976|Colgate-Palmolive acquires Hill’s Pet Nutrition. Today, Hill’s is the global leader in pet nutrition and veterinary recommendations.
168 |1987|Colgate acquires Softsoap liquid soap business from the Minnetonka Corporation. Today, Colgate is the global leader in liquid hand soap.
169 |1991|Colgate acquires Murphy Oil Soap, the leading wood cleaner in the United States. Today, its product portfolio has expanded to include all-purpose cleaners, sprays and wipes.
170 |1992|Colgate acquires the Mennen Company. Today, Mennen products are sold in over 52 countries. Colgate Total toothpaste is introduced.
171 |1995|Colgate enters Central Europe and Russia, expanding into fast-growing markets. Colgate acquires Kolynos Oral Care business in Latin America and launches market-leading Sorriso toothpaste.
172 |2004|Colgate acquires the GABA oral care business in Europe, with its strength in the important European pharmacy channel and its ties with the dental community.
173 |2006|Colgate enters the fast-growing Naturals segment by purchasing Tom’s of Maine, a leader in that market in the United States.
174 |2011|Colgate acquires the Sanex personal care brand in Europe
175 |2014|Colgate refurbishes the historic “Colgate Clock,” a landmark in Jersey City, New Jersey.
176 |2019|Colgate launches acquires premium, anti-aging skin care brand Filorga. Colgate Total toothpaste and Hill’s Science Diet are relaunched.
177 |2020|Colgate acquires Hello Products LLC, and Colgate responds to COVID-19 pandemic by donating 25 million bars of #SafeHands soap along with $20 million in health and hygiene products and pet food.
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179 = References =
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181 {{putFootnotes/}}
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