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Colgate Announces 3rd Quarter 2018 Results
NEW YORK--(BUSINESS WIRE)--October 26, 2018--Colgate-Palmolive Company (NYSE:CL) today reported worldwide Net sales of $3,845 million in third quarter 2018, a decrease of 3.0% versus third quarter 2017. Global unit volume was even with the year ago quarter, pricing increased 1.0% and foreign exchange was negative 4.0%. The previously disclosed professional skin care acquisitions contributed 1.5% to Net sales and unit volume growth in the quarter. Organic sales (Net sales excluding the impact of foreign exchange, acquisitions and divestments) decreased 0.5%.
Net income and Diluted earnings per share in third quarter 2018 were $523 million and $0.60, respectively. Net income in third quarter 2018 included $22 million ($0.02 per diluted share) of aftertax charges resulting from the Company’s Global Growth and Efficiency Program and an $80 million ($0.10 per diluted share) charge to adjust the provisional charge recorded in fourth quarter 2017 related to U.S. tax reform.
Net income and Diluted earnings per share in third quarter 2017 were $607 million and $0.68, respectively. Net income in third quarter 2017 included $39 million ($0.05 per diluted share) of aftertax charges resulting from the Global Growth and Efficiency Program.
Excluding charges resulting from the Global Growth and Efficiency Program in both periods and the charge related to U.S. tax reform in 2018, Net income in third quarter 2018 was $625 million, a decrease of 3% versus third quarter 2017, and Diluted earnings per share in third quarter 2018 was $0.72, a decrease of 1% versus third quarter 2017.
The following information was filed by Colgate Palmolive Co (CL) on Friday, October 26, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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