Colgate-Palmolive Company announced its financial results for the third quarter of 2024. Key highlights include:

- Net sales grew by 2.4% to $5.03 billion, with organic sales increasing by 6.8%.
- GAAP earnings per share (EPS) rose 5% to $0.90, while base business EPS grew 6% to $0.91.
- The gross profit margin improved to 61.1% (GAAP) and 61.3% (non-GAAP), reflecting a 260-270 basis point increase from the prior year.
- Advertising expenses increased 16%, supporting innovation and brand growth.
- Year-to-date net cash provided by operations reached $2.84 billion.

Colgate maintained its global leadership in toothpaste and manual toothbrushes, holding market shares of 41.6% and 32.3%, respectively.

Updated guidance for 2024 reflects:
- Net sales growth expected at 3%-5% (up from 2%-5%), with a mid-single-digit negative impact from foreign exchange.
- Organic sales growth revised to 7%-8% (from 6%-8%).
- Continued gross profit margin expansion and double-digit EPS growth on both GAAP and non-GAAP bases, with base business EPS growth now forecasted at 10%-11%.

Segment performance showed varied results:
- North America saw a 2.1% decline in net sales, while Europe and Asia Pacific achieved 8% and 6.3% growth, respectively.
- The Hill’s pet nutrition segment reported a 6.3% sales increase and a 28% rise in operating profit.

Operating profit grew 4% on a GAAP basis to $1.07 billion and 5% on a non-GAAP basis to $1.08 billion. The gross profit margin and operating profit margin continued to expand, driven by pricing and operational efficiencies.

CEO Noel Wallace highlighted the strong results across all divisions, emphasizing the focus on household penetration, brand investment, and digital capabilities to sustain growth.