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10/30, 11:58 AM (Source: TeleTrader)
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Colgate-Palmolive Q3 net sales at $4.2B, up 5.5% YoY

Colgate-Palmolive Company announced on Friday that its net sales stood at $4.16 billion in the third fiscal quarter of 2020, increasing 5.5% compared to the same time span a year ago.

The company's diluted earnings per share (EPS) surged 21% year-on-year to $0.81 while organic sales increased by 7.5% for the third three month period. Operating profit amounted to $1.02 billion in the quarter ending with September 30, 2020, rising by 19% from the corresponding quarter the year prior, while net income soared 21% on a yearly basis to $698 million.

"We [...] continue to see strength in eCommerce, led by our Hill's business. The very strong gross margin expansion in the quarter allowed us to invest more behind our brands and provides us with the ability to increase that investment in the balance of the year in support of a very full innovation pipeline," Chairman, President and CEO Noel Wallace noted in a statement.

Following the release of the report, the company shares grew 0.50% in premarket trade.

Breaking the News / MS