Colgate-Palmolive releases strong Q3 results
NEW YORK Colgate-Palmolive announced on Tuesday that it experienced a strong third quarter as new U.S. product launches in the super-premium category contributed to growth in oral care.
Worldwide sales grew 12 percent to $3.5 billion and unit volume grew 5.5 percent. Excluding divestments, worldwide sales and unit volume grew 13 percent and 6.5 percent, respectively. The growth was supported by a 12 percent boost in worldwide ad spending.
Net income and diluted earnings per share were $420.1 million and 77 cents, respectively. Excluding restructuring charges and SFAS 88 charges, net income in the quarter rose 16 percent to $466.4 million and diluted earnings per share increased 18 percent to 86 cents.
In the United States, Colgate Total Advanced Clean toothpaste, supported by an integrated marketing campaign featuring Brooke Shields and a professional sampling program, helped drive market share for Colgate Total toothpaste to its highest quarterly share ever at 15.3 percent.
Colgate Max Fresh BURST toothpaste, infused with 50 percent more mini breath strips, continues to build incremental market share for the Max Fresh equity, now at 3.9 percent year to date.
Meanwhile, the company’s share of the manual toothbrush market is 25.6 year to date, up 2 share points versus a year ago, fueled by the continued success of Colgate 360 degree manual toothbrush and its latest variant Colgate 360 degree Sensitive.
New products planned for the fourth quarter include Softsoap brand SPA Radiant body wash and liquid hand soap, Irish Spring Moisture Blast and Irish Spring Reviving Mint body washes, Softsoap brand Pink Grapefruit liquid hand soap and Mennen Speed Stick 24/7 Momentum deodorant.