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4/28/2023, 12:55 PM (Source: TeleTrader)
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Colgate-Palmolive's EPS in Q1 tumbles 32% to $0.45

Colgate-Palmolive Co. announced on Friday that its diluted earnings per share in the first trimester of its fiscal 2023 plunged 32% on an annual level, landing at $0.45. Meanwhile, net sales in the reported period saw a rise of 8.5% year over year, amounting to $4.8 billion.

Operating profit in the first quarter increased from $860 million registered in the same timeframe in 2022 to $909 million. On the other hand, net income attributable to Colgate-Palmolive Company saw an annual loss of 33%, coming in at $372 million.

"Our first quarter results provide further proof that our strategy to accelerate growth is working. We began 2023 with positive momentum, with sequential improvement in net and organic sales growth, gross profit margin, advertising spending, operating profit and free cash flow," CEO Noel Wallace stated.

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