Core Insights - Colgate-Palmolive Company's shares have increased by 7.1% over the past three months, outperforming the Zacks Consumer Products - Staples industry's growth of 1% and the broader Consumer Staples sector's increase of 6.6% [1] - The company maintains a strong position in the consumer products market, holding a 40.9% global market share in toothpaste and a 31.9% share in manual toothbrushes year to date [2] Financial Performance - In the first quarter of 2025, Colgate reported earnings that exceeded the Zacks Consensus Estimate, with year-over-year earnings improvement despite a decline in sales [3] - Organic sales grew by 1.4% in the first quarter, driven by a 1.5% increase in pricing, supported by aggressive pricing strategies [6] - Management projects net sales to grow in low single digits, with organic sales expected to increase by 2-4% year over year in 2025 [13] Strategic Initiatives - The company is focused on innovation and premiumization of its product offerings, including the re-launch of Colgate Total and the Hill's Science Diet with ActivBiome technology [8] - Colgate has invested approximately $2 billion in its supply chain in the United States over the last five years to enhance its operational capabilities [9] - Management is confident in its strategic initiatives to address challenges such as tariffs and inflation, aiming for consistent earnings per share growth [12] Market Challenges - The company faces macroeconomic challenges, including inflationary pressures and tariff concerns, which may impact performance [10] - Sales for 2025 are expected to be negatively affected by unfavorable currency exchange rates [11]

Core Insights - Colgate-Palmolive Co reported better-than-expected first-quarter FY25 earnings, with sales of $4.91 billion, a 3% year-over-year decline, surpassing analyst expectations of $4.86 billion [1] - The non-GAAP EPS of $0.91 exceeded the consensus estimate of $0.86 [1] Financial Performance - For FY25, Colgate anticipates net sales growth in the low single digits, factoring in a negative impact from foreign exchange in the low single digits [3] - The company projects organic sales growth to be between 2% to 4% [3] - Following the earnings announcement, Colgate shares fell by 3%, trading at $91.08 [3] Analyst Ratings and Price Targets - JP Morgan analyst Andrea Teixeira maintained an Overweight rating on Colgate-Palmolive and raised the price target from $95 to $103 [7] - Citigroup analyst Filippo Falorni maintained a Buy rating and increased the price target from $103 to $108 [7] Strategic Outlook - The CEO, Noel Wallace, acknowledged challenges due to uncertainty and volatility in global markets, including tariff impacts, but expressed confidence in the company's strategy to meet revised 2025 financial targets [2]

Core Viewpoint - Colgate-Palmolive Company reported first-quarter 2025 results with earnings and sales exceeding expectations, driven by organic sales growth, strong volume and pricing performance, and gross profit margin expansion [1][2][3] Financial Performance - Earnings on a Base Business basis were 91 cents per share, a 6% increase year over year, surpassing the Zacks Consensus Estimate of 86 cents [2] - Net sales totaled $4,911 million, a 3.1% decline from the previous year but above the Zacks Consensus Estimate of $4,855 million; organic sales grew by 1.4% despite a 4.4% negative impact from foreign exchange [3][4] - Gross profit was $2,987 million, down from $3,039 million year over year, but gross profit margin expanded by 80 basis points to 60.8% [6] - Operating profit increased to $1,076 million from $1,047 million year over year, with an operating profit margin expansion of 120 basis points to 21.9% [7] Segment Performance - North America's net sales, accounting for 20% of total sales, decreased by 3.6% year over year; Latin America's net sales fell by 8.7% due to currency impacts, although organic sales rose by 4% [8] - Europe's net sales increased by 2.5% year over year, driven by volume and pricing gains, while the Asia Pacific segment saw a 5% decline in net sales [9] - Africa/Eurasia's net sales dipped by 1.5% year over year, but organic sales advanced by 1.8% [10] - Hill's Pet Nutrition's net sales improved by 1.5% year over year, with a 3.2% rise in pricing [11] Cash Flow and Debt - The company ended the first quarter with cash and cash equivalents of $1,112 million and total debt of $8,269 million; net cash provided by operating activities was $600 million [12] 2025 Outlook - Colgate projects low single-digit growth in net sales, with an anticipated adverse impact from foreign exchange; organic sales growth is now expected to be between 2-4% [13][15] - The company anticipates earnings per share to increase in low single digits, with gross profit margin and advertising investment remaining stable as a percentage of sales [15][16] Stock Performance - Colgate's shares have risen by 2.1% over the past three months, contrasting with a 1.9% decline in the industry [17]

Financial Data and Key Metrics Changes - The company anticipates a $200 million incremental impact from tariffs in 2025 compared to initial guidance [11] - Advertising spending is at an all-time high, reflecting a strong focus on driving ROI [16] - The company delivered strong profit growth in Q1 despite market volatility [17] Business Line Data and Key Metrics Changes - The Hill's business saw a 5% organic growth, indicating strong performance across all price tiers [69] - The company is focused on core innovation, including the relaunch of Colgate Total and Hill's Science Diet with ActiveBiome technology [10][62] - The company experienced a negative 3% organic sales growth in Q1 [30] Market Data and Key Metrics Changes - In North America, there was a notable softness in volume due to lower store traffic and consumer uncertainty [129] - Latin America continues to show strong market share performance, with expectations of recovery as the macro environment stabilizes [56][132] - The Chinese market remains challenging, particularly for the Hawley and Hazel business, while Colgate continues to perform well [57] Company Strategy and Development Direction - The company is focused on selling daily use products and enhancing brand health to drive long-term sustainable growth [9][22] - There is a commitment to innovation and premiumization, with plans to accelerate innovation in the second half of the year [62][119] - The company aims to leverage its global portfolio and geographic breadth to mitigate risks associated with market volatility [14][15] Management's Comments on Operating Environment and Future Outlook - Management acknowledges a weaker consumer environment and expects continued volatility in 2025 [8][17] - There are early signs of category improvement in April, providing some confidence for the future [10][28] - The company anticipates that consumer confidence will return, leading to improved consumption in the medium term [80] Other Important Information - The company has invested approximately $2 billion in its U.S. supply chain over the past five years to enhance flexibility [12][104] - The company is focused on maintaining a strong balance sheet with low levels of net debt [16] Q&A Session Summary Question: Consumer pressures and category growth outlook - Management noted that while there was a slowdown in volume growth, early signs in April indicate potential stabilization and recovery in categories [28][30] Question: North America shipment and consumption trends - Management confirmed that shipments are pacing well with category improvements, although more work is needed in North America [35][36] Question: Pricing approach and tariff impacts - Management indicated that pricing improved sequentially and that they are taking a market-specific approach to offset tariff impacts [41][44] Question: Emerging markets performance - Management reported strong market share in Latin America and ongoing challenges in China, with expectations for gradual improvement [55][57] Question: Advertising spend and innovation plans - Management clarified that advertising spending remains strong and that innovation plans are on track, with a focus on stimulating consumption [60][62] Question: Hill's brand performance amid trading down - Management stated that there has been no trade down in the Hill's brand, which continues to perform well across all price tiers [69][70] Question: Tariff exposure and mitigation strategies - Management outlined strategies to mitigate tariff impacts through productivity, revenue growth management, and alternative sourcing [100][104] Question: Back half of the year expectations - Management expressed confidence in improved category growth rates and market share performance in the back half of the year [121][125]

Core Insights - Colgate-Palmolive reported revenue of $4.91 billion for Q1 2025, a year-over-year decline of 3%, but exceeded Zacks Consensus Estimate by 1.15% [1] - The company's EPS for the quarter was $0.91, up from $0.86 a year ago, representing a surprise of 5.81% over the consensus estimate [1] Revenue Performance by Region - North America: Net sales of $998 million, slightly below the estimated $1 billion, with a year-over-year change of +0.1% [4] - Latin America: Net sales of $1.14 billion, exceeding the $1.09 billion estimate, but down 8.8% year-over-year [4] - Africa/Eurasia: Net sales of $271 million, slightly below the $273.66 million estimate, with a year-over-year decline of 1.8% [4] - Europe: Net sales of $690 million, above the $674.15 million estimate, reflecting a year-over-year decline of 3% [4] - Asia Pacific: Net sales of $690 million, below the $727.36 million estimate, with a year-over-year decline of 5.1% [4] - Pet Nutrition: Net sales of $1.12 billion, exceeding the $1.09 billion estimate, with a year-over-year increase of 1.5% [4] - Total Oral, Personal and Home Care: Net sales of $3.79 billion, slightly above the $3.77 billion estimate, with a year-over-year decline of 4.3% [4] Operating Profit Analysis - Total Oral, Personal and Home Care: Operating profit of $971 million, below the estimated $1.01 billion [4] - Corporate: Operating profit of -$153 million, better than the estimated -$182.49 million [4] - Pet Nutrition: Operating profit of $258 million, exceeding the $239.30 million estimate [4] Stock Performance - Colgate-Palmolive shares returned -0.5% over the past month, compared to the Zacks S&P 500 composite's -4.8% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market [3]

Core Insights - Colgate-Palmolive surpassed earnings expectations in Q1 2025 despite a decline in overall sales, with GAAP revenue of $4.9 billion, down 3.1% from Q1 2024, but exceeding estimates by $45 million [1] Financial Performance - Non-GAAP EPS increased by 5.8% to $0.91, surpassing the estimate of $0.86 [2] - GAAP revenue decreased to $4.91 billion from $5.07 billion in Q1 2024, reflecting a 3.1% year-over-year decline [2] - Gross profit margin improved by 0.8 percentage points to 60.8% [2] - Operating profit margin increased by 1.2 percentage points to 21.9% [2][8] Business Overview - Colgate-Palmolive holds a 40.9% global market share in toothpaste and 31.9% in manual toothbrushes, with products marketed in over 200 countries [3] - The company emphasizes sustainability initiatives, including a commitment to recyclable toothpaste tubes [4] Geographic Performance - Europe saw a 5.4% organic sales increase due to balanced pricing and volume strategies [7] - Hill's Pet Nutrition achieved a 1.5% rise in net sales and a 2.9% boost in organic sales [7] - Latin America faced a 12.7% decline in net sales due to foreign exchange headwinds but managed a positive organic growth of 4% [7][6] Strategic Challenges - The company faces heightened global market competition, particularly from private labels, and ongoing raw material cost volatility [8] Future Outlook - Colgate-Palmolive projects low single-digit net sales growth for FY2025, with organic sales growth anticipated between 2% and 4% [9]

Core Viewpoint - Colgate-Palmolive reported quarterly earnings of $0.91 per share, exceeding the Zacks Consensus Estimate of $0.86 per share, marking a year-over-year increase from $0.86 per share [1] Financial Performance - The company achieved revenues of $4.91 billion for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 1.15%, although this represents a decline from $5.07 billion in the same quarter last year [2] - Over the last four quarters, Colgate-Palmolive has exceeded consensus EPS estimates four times and topped revenue estimates three times [2] Stock Performance - Colgate-Palmolive shares have increased approximately 2% since the beginning of the year, contrasting with a decline of 6.8% in the S&P 500 [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.94, with projected revenues of $5.01 billion, and for the current fiscal year, the EPS estimate is $3.67 on revenues of $20.03 billion [7] - The trend of earnings estimate revisions is mixed, which could change following the recent earnings report [6] Industry Context - The Consumer Products - Staples industry is currently ranked in the top 37% of over 250 Zacks industries, suggesting that companies in the top half tend to outperform those in the bottom half by more than 2 to 1 [8]

智通财经APP获悉，鉴于特朗普政府发起的史无前例的关税战役，美国必需消费品领军者高露洁 (CL.US)的管理层预计今年全年可能将增加约2亿美元成本，并且高露洁下调了其销售额以及盈利数据未 来展望。 盘前交易中，高露洁股价小幅上行。今年截至周四收盘，该股累计上涨 2%，大幅跑赢今年跌超8%的美 股大盘——标普500指数。 无独有偶，美国日用品巨头保宝洁(PG.US)公布的最新业绩显示，在截至3月31日的季度中，2025财年第 三季度的销售额为198亿美元，同比下降 2.0%，不及市场预期;经调整后每股收益为1.54美元，高于分析 师普遍预计的1.53美元。该公司预计截至6月的财年每股收益为6.72至6.82美元，低于1月预期，但较上 年同期的6.59美元有所增长。 更重要的是，宝洁预计今年有机销售额同比增长约2%。这一与上年基本持平的增幅低于该公司1月份的 预测，当时该公司预计销售额将增长3%至5%。 宝洁CEO乔恩·莫勒在声明中表示："在充满挑战且动荡的消费市场和地缘政治环境下，本季度我们实现 了温和的有机销售额和每股收益增长。我们正在对近期前景进行适当调整，以反映潜在的市场状况。" 这家销售足迹遍及全球的牙 ...

Financial Performance - Net sales decreased by 3.1%, including a 4.4% negative impact from foreign exchange[21] - Organic sales increased by 1.4%, but experienced a 0.4% negative impact from lower private label pet volume[21] - GAAP and Base Business Gross profit margin increased 80 basis points to 60.8%[21] - Base Business EPS increased 6%[21] Strategic Investments - Advertising as a percentage of sales increased 30 basis points to 13.6% to support building brand health and strong innovation[21] Guidance - Net sales growth is now expected to be up low single digits, including a low-single-digit negative impact from foreign exchange[25] - Organic sales growth is now expected to be 2% to 4%, including the impact of the planned exit from private label pet nutrition over the course of 2025[27] - The company expects the incremental tariffs announced and in effect as of April 24, 2025 to have an incremental gross impact of approximately $200 million dollars to the cost of goods sold in 2025[30] Market Share - Global toothpaste market share was up 20 basis points on a volume basis[21] Company Overview - Colgate-Palmolive is a $20.1B global consumer products company with ~34,000 employees serving over 200 countries and territories[7]

Sales Performance - Approximately two-thirds of Colgate-Palmolive's net sales are generated from markets outside the U.S., with about 45% coming from emerging markets[90]. - Worldwide net sales were $4,911 million in Q1 2025, down 3.1% from Q1 2024, with organic sales increasing by 1.4%[112]. - Net sales in the Oral, Personal and Home Care segment were $3,792 million, down 4.3% from Q1 2024, while organic sales increased by 1.0%[113]. - Net sales in North America decreased 3.6% to $998 million, driven by volume declines of 2.3% and net selling price decreases of 0.7%[145]. - Net sales in Latin America decreased 8.7% to $1,143 million, impacted by negative foreign exchange of 12.7%[148]. - Net sales in Europe increased 2.5% to $690 million, with organic sales growth of 5.4% driven by the United Kingdom, Germany, and France[152]. - Net sales in Asia Pacific decreased 5.0% to $690 million, with organic sales declining 3.1% primarily due to the Greater China region[155]. - Net sales in the Hill's Pet Nutrition segment were $1,118 million, up 1.5% from Q1 2024, with organic sales increasing by 2.9%[115]. Profitability and Expenses - Gross profit decreased to $2,987 million in Q1 2025 from $3,039 million in Q1 2024, while gross profit margin increased to 60.8% from 60.0%[117][118]. - Selling, general and administrative expenses decreased by 1% to $1,898 million, with a percentage of net sales increasing to 38.6% from 37.8%[120][121]. - Operating profit increased by 3% to $1,076 million, with an operating profit margin of 21.9%, up 120 basis points from the previous year[126][127]. - Operating profit in North America decreased 8% to $196 million, with a margin of 19.6%, down 100 basis points from the previous year[147]. - Operating profit in Europe increased 12% to $172 million, with a margin of 24.9%, up 220 basis points[154]. - Operating profit for Hill's Pet Nutrition rose 30% to $258 million, with an operating profit margin of 23.1%, an increase of 510 basis points compared to the previous year[163]. Income and Earnings Per Share - Net income attributable to Colgate-Palmolive Company in Q1 2025 increased to $690 million, up from $683 million in Q1 2024, with diluted earnings per share rising to $0.85 from $0.83[141]. - Excluding certain charges, net income in Q1 2025 increased 4% to $743 million, and diluted earnings per share increased 6% to $0.91[142]. Costs and Charges - The company expects incremental gross costs of approximately $200 million in 2025 due to tariffs imposed by the United States and other countries[104]. - The company recorded a charge of $65 million related to a lawsuit under the Employee Retirement Income Security Act (ERISA) during the quarter ended March 31, 2025[101]. - Non-service related postretirement costs were $72 million in Q1 2025 compared to $22 million in Q1 2024[129]. - Colgate-Palmolive continues to experience higher raw and packaging material costs, which may adversely affect future results[107]. Strategic Initiatives - Colgate-Palmolive announced the acquisition of Care TopCo Pty Ltd, owner of the Prime100 pet food brand, which is expected to close in Q2 2025[93]. - The 2022 Global Productivity Initiative resulted in pretax costs of $36 million, aimed at reallocating resources towards strategic priorities and efficiencies[102]. - The company is focused on delivering consistent compounded earnings per share growth through organic sales growth and operational efficiencies[111]. - Colgate-Palmolive's business strategy includes prioritizing investments in high growth and high margin segments within Oral Care, Personal Care, and Pet Nutrition[99]. Market Conditions - The company faces heightened competitive activity in certain markets, impacting pricing pressures and relationships with key retailers[108]. - The global toothpaste market share was 40.9%, a decrease of 0.5 share points year-over-year, while the manual toothbrush market share increased to 31.9%, up 0.3 share points[114]. Cash Flow and Debt - Net cash provided by operations decreased by 12% to $600 million in Q1 2025, compared to $681 million in Q1 2024, mainly due to changes in working capital[173]. - Total debt increased to $8,269 million as of March 31, 2025, up from $7,949 million at the end of 2024[176]. Dividends and Capital Expenditures - The company announced an increase in the quarterly common stock dividend to $0.52 per share from $0.50, effective in Q2 2025[179]. - Capital expenditures for Q1 2025 were $124 million, with expectations for capital expenditures to be approximately 3.0% of net sales for the year[174]. IT and Internal Controls - The company is in the process of upgrading its enterprise IT system to SAP S/4 HANA, which is not expected to materially impact internal controls over financial reporting[189]. - As of March 31, 2025, the company's disclosure controls and procedures were evaluated and deemed effective by the management team[188]. - There were no material changes in the company's internal control over financial reporting during the most recent fiscal quarter[190]. - There is no material change in the information regarding market risk exposure as reported in the Annual Report for the year ended December 31, 2024[186].