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].

Financial Performance - Net sales decreased by 3.1% to $4,911 million, while organic sales grew by 1.4%[3] - GAAP EPS increased by 2% to $0.85, and Base Business EPS rose by 6% to $0.91[3] - Gross profit margin improved by 80 basis points to 60.8%[3] - Total company operating profit increased by 3% to $1,076 million, with a margin of 21.9%[11] - Net income attributable to Colgate-Palmolive Company was $690 million in Q1 2025, compared to $683 million in Q1 2024[25] - Net income (GAAP) for 2025 was reported at $953 million, compared to $729 million in 2024[43] - Non-GAAP net income for 2025 was $1,018 million, an increase from $779 million in 2024[43] Sales and Market Share - Colgate maintained a global market share of 40.9% in toothpaste and 31.9% in manual toothbrushes year to date[3] - North America reported a 3.6% decline in net sales, while Latin America saw an 8.7% decrease[8] - Net sales for Q1 2025 were $4,911 million, a decrease of 3.1% compared to $5,065 million in Q1 2024[25] - North America net sales decreased by 3.6% in Q1 2025, while Europe saw an increase of 2.5%[36] Cash Flow and Debt - Net cash provided by operations was $600 million for the first three months of 2025[3] - Free cash flow before dividends was $476 million in Q1 2025, down from $555 million in Q1 2024[29] - Total debt rose to $8,269 million as of March 31, 2025, compared to $7,949 million at the end of 2024[27] Expenses and Profit Margins - Selling, general and administrative expenses (GAAP) for 2025 were $1,898 million, a decrease from $1,916 million in 2024[40] - Operating profit (GAAP) increased by 3% to $1,076 million in 2025 from $1,047 million in 2024[40] - Operating profit margin (GAAP) improved to 21.9% in 2025, up from 20.7% in 2024, reflecting a 120 basis point increase[40] - Selling, general and administrative expenses as a percentage of net sales (non-GAAP) was 38.3% in 2025, up from 37.8% in 2024[40] Tax and Working Capital - The effective tax rate improved to 23.7% in Q1 2025 from 24.6% in Q1 2024[25] - The effective tax rate for diluted earnings per share was 23.7% in 2025, slightly down from 24.6% in 2024[43] - The company reported a working capital as a percentage of sales of (3.3)% in Q1 2025, an improvement from (5.2)% in Q4 2024[27] Other Financial Metrics - Total assets increased to $16,647 million as of March 31, 2025, up from $16,046 million at the end of 2024[27] - Non-service related postretirement costs (GAAP) rose significantly to $72 million in 2025 from $22 million in 2024[40] - Other (income) expense, net (GAAP) decreased to $13 million in 2025 from $76 million in 2024[40] - Hill's division experienced a 1.5% increase in net sales, with a 30% rise in operating profit[11] Future Outlook - The company expects full-year 2025 net sales to increase by low single digits, with organic sales growth projected at 2% to 4%[6] - Advertising investment as a percentage of net sales increased by 30 basis points to 13.6%[5]

Market Overview - US stock index futures are all down, with Dow futures down 0.47%, S&P 500 futures down 0.31%, and Nasdaq futures down 0.26% [1] - European indices also show declines, with Germany's DAX down 0.07%, UK's FTSE 100 down 0.04%, France's CAC40 down 0.14%, and the Euro Stoxx 50 down 0.18% [2] - WTI crude oil increased by 1.25% to $63.05 per barrel, while Brent crude rose by 1.03% to $66.80 per barrel [2] US Stock Market Insights - Jefferies highlights a critical point for the S&P 500 index at 5500, which needs to be breached to recover from a 19% drop since February's historical high [3] - Christopher Wood from Jefferies suggests that the golden era for US stocks is over, predicting further declines in US equities, bonds, and the dollar [5] Automotive Industry - Japanese automakers saw a surge in US sales in March, with Toyota's sales up 8% to 231,336 units, Honda's up 13%, and Nissan's up 10% [4] Company Earnings Reports - Merck's Q1 earnings exceeded expectations with sales of $15.5 billion, although they anticipate a $200 million loss due to tariffs by 2025 [9] - American Airlines withdrew its 2025 profit guidance, reporting a Q1 net loss of $473 million, worsened by tariff pressures and government spending uncertainties [9] - Procter & Gamble lowered its annual organic sales growth forecast from 3%-5% to 2% due to tariff pressures and fluctuating consumer demand [10] - Sanofi's Q1 earnings surpassed expectations, driven by strong demand for its Dupixent drug, with sales of €9.89 billion [10] - IBM reported Q1 sales of $14.5 billion, exceeding expectations, but concerns remain regarding the impact of tariffs and government spending cuts on business [11] - Texas Instruments provided a positive Q2 earnings outlook, with expected revenue between $4.17 billion and $4.53 billion, driven by improved demand in industrial and automotive sectors [12] Technology Sector - Google Chrome's potential market value is estimated at over $50 billion, according to competitors, amid ongoing antitrust scrutiny [13] - TSMC plans to begin production using A14 chip technology in 2028, aiming to maintain its leadership in the semiconductor industry [13]

Core Viewpoint - Colgate-Palmolive Company (CL) is anticipated to report a decline in revenues for the first quarter of 2025, with expected revenues of $4.87 billion, reflecting a 3.8% decrease from the previous year [1] Revenue and Earnings Estimates - The consensus estimate for CL's earnings is 86 cents per share, expected to remain flat year over year, with a slight downward adjustment in the past week [2] - The model predicts a sales decline of 1.7% for the first quarter, with specific declines in various regions: 7.2% in Latin America, 1.5% in North America, 3% in Asia Pacific, and 4% in Africa/Eurasia, while Europe and Pet Nutrition are expected to see increases of 2.8% and 3% respectively [6] Market Challenges - CL's performance is likely impacted by inflationary pressures, foreign currency fluctuations, and weak performance in key regions, particularly in Latin America where currency devaluation has been significant [4] - In North America, the company faces challenges in maintaining pricing power due to increased promotional activity and competitive dynamics, which could further pressure profitability [5] Margin and Profitability - Persistent inflation in raw materials and packaging costs is squeezing margins, limiting the company's ability to reinvest in growth initiatives [7] - Despite these challenges, CL's gross margin is expected to expand by 130 basis points to 61.3% in the first quarter, supported by strong pricing and revenue growth management initiatives [10][9] Stock Performance and Valuation - CL shares have gained 7.8% over the past three months, outperforming the industry average growth of 2% [11] - The company trades at a forward 12-month P/E multiple of 25.16X, which is higher than the industry average of 20.89X and the S&P 500's average of 17.61X, indicating a relatively pricey valuation [14]

Core Viewpoint - Analysts project that Colgate-Palmolive (CL) will report quarterly earnings of $0.86 per share, unchanged year over year, with revenues expected to decline by 3.8% to $4.87 billion [1]. Earnings Estimates - The consensus EPS estimate has been revised 0.2% lower over the last 30 days, indicating a collective reevaluation by analysts [2]. - Revisions to earnings estimates are significant indicators for predicting investor actions regarding the stock, with empirical research showing a strong correlation between earnings estimate trends and short-term stock performance [3]. Revenue Projections - Analysts estimate 'Net Sales- Pet Nutrition' to reach $1.09 billion, reflecting a decrease of 0.8% year over year [5]. - 'Net Sales- Total Oral, Personal and Home Care' is projected at $3.77 billion, indicating a decline of 4.9% from the previous year [5]. - 'Net Sales- Oral, Personal and Home Care- North America' is expected to be $1.00 billion, showing a slight increase of 0.4% year over year [5]. - 'Net Sales- Oral, Personal and Home Care- Latin America' is estimated at $1.09 billion, suggesting a significant decline of 12.6% year over year [6]. - 'Net Sales- Oral, Personal and Home Care- Africa/Eurasia' is projected to be $273.66 million, down by 0.9% year over year [6]. - 'Net Sales- Oral, Personal and Home Care- Europe' is expected to reach $674.15 million, indicating a decrease of 5.2% from the prior year [7]. - 'Net Sales- Oral, Personal and Home Care- Asia Pacific' is projected at $727.36 million, reflecting a slight increase of 0.1% year over year [7]. Operating Profit Estimates - 'Operating profit- Total Oral, Personal and Home Care' is expected to be $1.01 billion, down from $1.04 billion year over year [8]. - 'Operating profit- Pet Nutrition' is projected at $239.30 million, an increase from $199 million in the previous year [8]. - 'Operating profit- Oral, Personal and Home Care- North America' is estimated at $209.78 million, down from $222 million year over year [9]. - 'Operating profit- Oral, Personal and Home Care- Latin America' is expected to be $364.08 million, compared to $405 million last year [9]. - 'Operating profit- Oral, Personal and Home Care- Africa/Eurasia' is projected at $66.32 million, slightly up from $66 million in the same quarter last year [10]. Stock Performance - Colgate-Palmolive shares have increased by 4.2% over the past month, contrasting with the S&P 500 composite's decline of 8.9% [10].

Colgate-Palmolive (NYSE: CL ) is a classic of the consumer sector : a company with a two—century history that has become one of the pillars of the global FMCG market. In 2024, for the first time in its history, itMy professional background spans multiple continents and includes experience in private banking, corporate finance, and strategic advisory. For several years, I developed and led a private banking department in Dubai, where I crafted tailored investment solutions to meet the unique needs of affluen ...

Colgate-Palmolive (CL) is expected to deliver flat earnings compared to the year-ago quarter on lower revenues when it reports results for the quarter ended March 2025. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on ...

Core Insights - Colgate-Palmolive Company (CL) is strategically positioned for future growth, benefiting from strong pricing, funding-the-growth programs, and productivity initiatives [1] - Analysts are optimistic about CL's earnings, with a projected 2.5% year-over-year increase in EPS for 2025 and growth estimates of 4.2% in sales and 8.1% in EPS for 2026 [2] Sales and Revenue Growth - Colgate's organic sales advanced 4.3% in the most recent quarter, driven by a 2.5% increase in volume and a 1.8% improvement in pricing [3] - The company is implementing aggressive pricing strategies that bolster margins [3] Innovation and Product Strategy - Colgate's innovation strategy focuses on brand health and adjacent categories, particularly in premium Oral Care products, which enhances sales and profitability [4] - The acquisition of Care TopCo Pty Ltd will allow Colgate's Hill's Pet Nutrition division to access the growing fresh pet food market, strengthening its position in Australia [5] Operational Efficiency - The company is investing in scaling capabilities in digital, data, and analytics to enhance competitive advantages and improve profits [6] Challenges and Economic Conditions - Colgate faces challenges from macroeconomic conditions, including inflationary pressures on raw materials and packaging, which impact profitability [7] - Management anticipates flat or slightly increased advertising investments for 2025, with foreign currency fluctuations posing additional challenges [8] Shareholder Returns - Colgate is committed to rewarding shareholders, having returned $3.4 billion through dividends and share repurchases in 2024, and has a history of uninterrupted dividends since 1895 [9] - The quarterly dividend has been raised to 52 cents per share, effective in Q2 2025, and a new share repurchase plan of up to $5 billion has been authorized [10] Future Outlook - Colgate expects consistent EPS growth in 2025, with net sales projected to remain flat year-over-year and organic sales growth within the long-term target range of 3-5% [11][12] - The company's shares have gained 4.2% over the past three months, compared to the industry's 10.9% growth [13]