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Colgate-Palmolive Company (CL+0.73%) has filed its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports a net sales increase of 3.3% to $20.1 billion, driven by volume growth and price increases, partially offset by foreign exchange impacts.
The Oral, Personal and Home Care segment reported net sales of $15.6 billion, a 3.0% increase, with organic sales growth of 8.1%.
Hill’s Pet Nutrition segment achieved net sales of $4.5 billion, up 4.5% from the previous year, with organic sales growth of 4.9%.
Gross profit increased to $12.2 billion, with a gross profit margin of 60.5%, up from 58.2% in the previous year.
Operating profit rose 7% to $4.3 billion, with an operating profit margin of 21.2%, reflecting higher gross profit offset by increased selling, general, and administrative expenses.
Net income attributable to Colgate-Palmolive Company was $2.9 billion, or $3.51 per diluted share, up from $2.3 billion, or $2.77 per diluted share, in 2023.
The company identified a material weakness in its internal controls over financial reporting due to a lack of resources with SEC financial reporting experience.
Colgate-Palmolive does not anticipate cash dividend payments to common stockholders in the near future.
The company continues to focus on marketing its products globally, with a significant portion of sales coming from emerging markets.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Colgate-Palmolive Company annual 10-K report dated February 13, 2025. To report an error, please email earnings@qz.com.