Colgate-Palmolive reports Q3 base EPS 86c, consensus 80c

Reports Q3 revenue $4.92B, consensus $4.82B. “We are particularly pleased with the quality of our results this quarter on top of our strong first half results. This was our third quarter of sequential improvement in gross profit margin and our second quarter in a row delivering double-digit operating profit growth along with a double-digit increase in advertising spending. Strong investment levels behind brand-building activities and innovation should continue in the remainder of the year as we continue to work towards balanced organic sales growth. The momentum in our business and the strength of our profit and cash flow performance adds to our confidence that we are executing the right strategies to deliver on our raised 2023 financial targets and generate long-term value for our stakeholders.”