Colgate-Palmolive's Q4 sales up y 5% to $4.63B
Colgate-Palmolive Company announced on Friday that its net sales in the fourth quarter of the fiscal year 2022 saw an annual rise of 5% to hit $4.63 billion. On the other hand, its net income plummeted by 97% compared to the same trimester in 2021 to come in at $5 million, while its diluted earnings per share (EPS) plunged by 94% to land at $0.01 per share.
In the entire fiscal year, the company's net sales advanced by 3% year-on-year to hit $17.97 billion. Its diluted EPS, however, slid by 16% to $2.13 per share, and net income by 18% to $1.78 billion.
"Looking ahead, we have a proven strategy, a focused portfolio [...], everyday usage categories and product offerings across price points. [...] All this adds to our confidence that despite uncertain macroeconomic conditions worldwide, we are [...] well-positioned to deliver sustainable, profitable growth in 2023 and beyond," Chairman, President and Chief Executive Officer (CEO) Noel Wallace commented.
Following the release of the report, Colgate-Palmolive's shares went down by 1.87% in premarket trading.