Colgate-Palmolive Q2 Earnings Top Estimates

Colgate-Palmolive Co CL reported second-quarter FY22 sales growth of 5.5% year-on-year to $4.48 billion, beating the consensus of $4.36 billion.
Organic sales increased by 9%. Total Oral, Personal, and Home Care net sales increased 3.1% to $3.6 billion.
Non-GAAP EPS of $0.72 beat the analyst consensus of $0.71.
Gross profit was $2.55 billion, while the margin contracted 300 basis points to 57%.
Selling, general and administrative expenses rose 5.7% Y/Y to $1.7 billion.
Operating margin contracted 370 basis points to 19.7%, and operating income for the quarter fell 11.2% to $884 million.
The company held $858 million in cash and equivalents as of June 30, 2022. Net cash provided by operations was $914 million for the six months.
"As expected, significant increases in raw and packaging material and logistics costs continued during the quarter and currencies remained volatile in many parts of the world," said Chairman, President, and CEO Noel Wallace.
Outlook: Colgate sees FY22 organic sales growth of 5% - 7% (prior view 4% - 6%).
It continues to expect a decline in gross profit margin, increased advertising investment, and double-digit EPS growth on a GAAP basis.
Price Action: CL shares are trading higher by 0.97% at $79.96 in premarket on the last check Friday.
Photo by Opal RT from Pixabay

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