Oral care innovations help drive Colgate-Palmolive's quarterly earnings
NEW YORK Colgate-Palmolive experienced a strong third quarter as its global market shares in toothpaste and manual toothbrushes reached record highs year-to-date, the company announced on Thursday.
"Overall, we are very pleased with our solid results this quarter, despite aggressive competitive activity and difficult economic conditions around the world," stated Ian Cook, chairman, president and CEO.
"Colgate's global market shares in toothpaste and manual toothbrushes are both at record highs year to date. Colgate's share of the global toothpaste market strengthened to 44.2% year-to-date, led by share gains in Brazil, China, India, Venezuela, France, Greece and the United Kingdom," Cook added. "Colgate also strengthened its global leadership in manual toothbrushes, with its global market share in that category reaching 31.5% year to date, up 1.6 share points versus a year ago."
Worldwide sales were $3.9 billion, down 1.5% compared with the year-ago period. Organic sales grew 3%. Net income increased 5% to $619 million, and diluted earnings per share rose 8% to $1.21. North American sales grew 2% during the quarter, as organic sales grew 1.5%.
In the United States, new product launches across all price points contributed to growth in oral care, including Colgate Triple Action, Colgate Sensitive MultiProtection and Colgate Max White with Mini Bright Strips toothpastes, the company stated. Its share of the manual toothbrush market reached a record 33.5% year to date, up 1.8 share points versus a year ago.
The company added that a major relaunch of Colgate Total toothpaste is just getting under way in the United States, with upgraded packaging that includes new graphics and a redesigned stand-up cap. The relaunch will be supported with a new integrated marketing campaign and new communications to dental professionals, both focused on highlighting the 12-hour antibacterial protection of Colgate Total toothpaste.