Q3 2024 Colgate-Palmolive Co Earnings Call Transcript
Key Points
- Colgate-Palmolive Co (CL) reported strong volume-led organic sales growth, with 3% growth in developed markets and 4.6% growth in emerging markets.
- The company achieved gross margin expansion, which has allowed for continued investment in advertising and capabilities.
- Colgate-Palmolive Co (CL) saw strong performance in its Hills pet nutrition business, with significant volume growth and market share gains.
- The European division delivered a strong quarter with improved market shares and high levels of advertising investment.
- Emerging markets, particularly Brazil, India, and Mexico, showed strong performance, contributing to overall growth.
- North America experienced a significant decline in pricing for the second consecutive quarter, impacting overall performance.
- The skin health business faced challenges, particularly in China and North America, with lower volumes and e-commerce pullbacks.
- The company noted some choppiness in the Mexican market post-elections, which could impact future performance.
- Colgate-Palmolive Co (CL) is not immune to economic and political volatility in emerging markets, which could affect future results.
- There is a need for continued focus on premiumization and innovation to address competitive pressures and maintain market share.
Good morning. Welcome to today's Colgate Palmolive 2024 third-quarter earnings conference call. This call is being recorded and is being simulcast live at www.colgatepalmolive.com.
Now for opening remarks, I'd like to turn this call over to Chief Investor Relations officer and Senior Vice President, M&A, John Faucher.
Thanks Betsy. Good morning and welcome to our third quarter 2024 earnings release conference call. This is John Faucher. Today's conference call will include forward-looking statements. Actual results could differ materially from these statements. Please refer to the third quarter 2024 earnings press release and related prepared materials and our most recent filings with the SEC, including our 2023 annual report on form 10-K and subsequent SEC filings, all available on Colgate's website for a discussion of the factors that could cause actual results to differ materially from
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