Colgate Q4 EPS falls 76% to $0.18
Colgate-Palmolive Co. reported its fourth-quarter net sales at $4.4 billion, just 2% higher than the same period a year ago. The diluted earnings per share (EPS) dropped 76% year-on-year to $0.18. Net income fell by 77% to $148 million. The EPS decrease was attributed to "the impact of the COVID-19 pandemic on the duty-free, travel retail and pharmacy channels." For the full year 2021, net sales were up 6% annually to $17.4 billion, diluted EPS was down 19% to $2.55, while net income saw an 18.5% drop and stood at $2.2 billion.
"There is still much uncertainty stemming from the COVID-19 pandemic, supply chain disruptions, increases in raw material and logistics costs and volatility in consumer demand and currencies. With costs expected to remain elevated in 2022, our funding the growth and revenue growth management initiatives, including higher pricing, will be more important than ever," said CEO Noel Wallace.
Colgate shares decreased 1.69% after the earnings release.