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Colgate-Palmolive Co CL

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Profits Wither, but Colgate Continues to Invest to Support Sales Momentum; Shares Not a Bargain

Erin Lash, CFA Sector Director

Analyst Note

| Erin Lash, CFA |

Despite extensive supply chain disruptions, we think Colgate’s enhanced focus on consumer-valued innovation across its price tiers contributed to impressive sales marks in the third quarter. Organic sales popped 4.5% (reflecting a 1.5% benefit from increased volumes and a 3-point bump from higher prices), on top of 7.5% growth in the year-ago period. This marked Colgate’s 11th consecutive period of underlying gains in line with or above its 3%-5% long-term aim.

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Company Profile

Business Description

Since its founding in 1806, Colgate-Palmolive has grown to become a leading global consumer product company. In addition to its namesake oral care line, the firm manufactures shampoos, shower gels, deodorants, and home care products that are sold in over 200 countries around the world (international sales account for about 75% of its consolidated total, including approximately 50% from emerging regions). It also owns specialty pet food maker Hill's, which sells its products through veterinarians and specialty pet retailers.

300 Park Avenue
New York, NY, 10022-7499
T +1 212 310-2000
Sector Consumer Defensive
Industry Household & Personal Products
Most Recent Earnings Sep 30, 2021
Fiscal Year End Dec 31, 2020
Stock Type Classic Growth
Employees 34,200