Welcome to our dedicated page for Colgate Palmolive Co news (Ticker: CL), a resource for investors and traders seeking the latest updates and insights on Colgate Palmolive Co stock.
Colgate-Palmolive Company (NYSE: CL) is a globally recognized leader in the consumer products industry, serving millions of consumers in over 200 countries and territories. Founded in 1806, the company has grown significantly to become a major player in the oral care, personal care, home care, and pet nutrition sectors.
Colgate-Palmolive’s product portfolio includes some of the world’s most trusted brands such as Colgate, Palmolive, Speed Stick, Softsoap, Irish Spring, Ajax, and Hill's Science Diet. These products are designed to make daily life healthier and more enjoyable for consumers. The company’s operations are notably strong internationally, with approximately 70% of its sales coming from international markets, including about 45% from emerging regions.
With a strong commitment to sustainability and social responsibility, Colgate-Palmolive actively supports environmental and wellness initiatives. The company engages in various philanthropic activities and has partnerships aimed at improving oral health, hygiene, and pet care globally.
Recent achievements include the expansion of its Tom's of Maine Incubator program, which supports young leaders focused on sustainable farming, climate change, and environmental justice. The program, now in its second year, has awarded $100,000 to five new changemakers, providing them with funding and mentorship to scale their impactful work.
Financially, Colgate-Palmolive continues to demonstrate strong performance with robust sales growth driven by its diverse product lines and extensive global reach. The company is well-positioned to adapt to market changes and sustain its leadership in the consumer goods sector.
For the latest updates, you can follow the company on Twitter at @cp_news. For those interested in career opportunities, visit Colgate Careers and stay connected via their social media platforms on Facebook and Twitter.
Colgate-Palmolive Company (NYSE:CL) reported a 1.0% increase in net sales, with organic sales up 7.0% across all divisions for Q3 2022. However, GAAP earnings per share (EPS) fell 1% to $0.74, and base business EPS dropped 9%, attributed to foreign exchange losses. Gross profit margins decreased by 220 basis points to 57.2%. Despite rising raw material costs, the company maintained leadership in toothpaste and manual toothbrushes, holding 39.7% and 31.6% market shares respectively. Guidance for 2022 predicts net sales growth within 1% to 4%, dampened by foreign exchange effects.
Colgate-Palmolive Company (NYSE:CL) will host a live webcast of its Q3 2022 earnings conference call on October 28, 2022, at 8:30 a.m. ET. The call will feature key executives, including CEO Noel Wallace and CFO Stan Sutula. Prepared materials will be available at 7:00 a.m. ET on the company's website. Colgate-Palmolive sells products across various categories such as Oral Care and Home Care in over 200 countries, promoting sustainability and community well-being initiatives, including dental health programs that have benefited over 1.4 billion children.
Tom's of Maine has launched its inaugural Incubator initiative to support BIPOC leaders in environmental solutions, offering $20,000 in funding to five selected changemakers. The seven-month program encourages young voices to engage in climate change discussions, emphasizing representation in the movement. Applications are open from September 28 to October 19, 2022, with winners announced in November 2022. The initiative aligns with Tom's of Maine's commitment to sustainability and community support, as articulated by General Manager Cristiane Martini.
Colgate-Palmolive Company (NYSE: CL) has received approval for its Net Zero emissions reduction targets from the Science Based Targets initiative (SBTi), making it the first large multinational in the Consumer Durables sector to do so. Colgate aims to reduce absolute Scope 1 and 2 greenhouse gas emissions by 42% by 2030 from a 2020 baseline, increase renewable electricity sourcing to 100% by 2030, and achieve Net Zero GHG emissions across its value chain by 2040. This commitment aligns with the Paris Agreement's goal to limit global warming to 1.5°C.
The Board of Directors of Colgate-Palmolive Company (NYSE:CL) has declared a quarterly cash dividend of $0.47 per common share. This dividend is payable on November 15, 2022, to shareholders on record as of October 21, 2022. Notably, the company has maintained uninterrupted dividend payments since 1895, showcasing its commitment to shareholder returns.
Prabha Narasimhan has been appointed as the Managing Director and CEO of Colgate-Palmolive (India) Limited, effective immediately. With almost 25 years of experience across various sectors, she previously held a key leadership role at Hindustan Unilever, driving significant success in the Home Care category. Mukul Deoras, President of the Asia-Pacific Division, expressed confidence in her ability to enhance the company's performance in the Indian market, which is already a leader in Oral Care products under the Colgate brand.
Colgate-Palmolive (NYSE:CL) will present at the Barclays 2022 Global Consumer Staples Conference on September 7, 2022, at 10:30 a.m. ET. CEO Noel Wallace will lead the presentation, which will be accessible via live webcast on Colgate’s website. A recorded version will also be available for those unable to attend live. Colgate-Palmolive continues to focus on oral care, personal care, home care, and pet nutrition, reaching consumers in over 200 countries with brands like Colgate, Palmolive, and Hill’s Science Diet.
Colgate-Palmolive Company plans to acquire three dry pet food manufacturing plants from Red Collar Pet Foods for $700 million. The facilities, located in South Carolina, Oklahoma, and Ohio, will enhance Hill’s Pet Nutrition’s production capabilities. Approximately 350 employees will be transferred to Colgate-Palmolive. The acquisition aligns with Hill's commitment to grow its product offerings and improve services to retailers and veterinarians. The transaction is pending regulatory approval and won't materially affect earnings in 2022.
Colgate-Palmolive Company has appointed Stephan Habif as the new Chief Technology Officer, effective September 1, 2022. Habif, who previously served as Senior Vice President at L’Oreal, will oversee the global Research & Development organization focusing on innovation in oral care, pet nutrition, and skin health. He succeeds Patricia Verduin, who is retiring after 15 years. Chairman and CEO Noel Wallace praised Verduin's contributions, emphasizing the importance of R&D in driving growth and sustainability.
Colgate-Palmolive Company (NYSE:CL) reported a 5.5% increase in net sales and a 9.0% growth in organic sales for Q2 2022, with all divisions experiencing growth. However, GAAP EPS fell 13% to $0.72 due to rising costs. The company maintains a 39.6% market share in toothpaste. Despite significant raw material cost pressures, Colgate raised its full-year organic sales growth guidance to 5%-7%. The decline in gross profit margin, attributed to logistics and material costs, was noted, alongside ongoing efforts to manage pricing and costs.
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