Colgate-Palmolive Sees 3.3% Increase in Net Sales in FY 2024

Net sales increased 3.3% for the Colgate-Palmolive Company in FY 2024, delivering over $20 billion in net sales for the first time.

Organic sales increased 7.4%.

For Q4, net sales decreased 0.1% for the company with a 4.3% increase in organic sales.

Colgate’s leadership in toothpaste continued with its global market share at 41.4% year to date.

“We are pleased to have delivered another quarter and full year of strong organic sales growth along with increases in gross profit, gross profit margin, net income, earnings per share and cash flow,” said Colgate-Palmolive Company CEO Noel Wallace. “Our goals for 2024 were to deliver peer leading growth while funding investment for future growth and building flexibility into our P&L to counter macro headwinds. We delivered on those goals, leaving us well positioned to deliver against our guidance in 2025.”

Wallace said was the company’s organic sales mark the sixth consecutive year for growth, at or above the 3%-5% targeted range.

The combination of strong sales growth and operating leverage drove strong bottom-line performance as well, with net income and earnings per share both increasing double digits versus 2023, officials said.

“Our strong margin performance allowed us to continue to invest to drive brand health and support innovation with a 15% increase in advertising spending in 2024, following a 19% increase in 2023,” said Wallace. “We have built flexibility into our income statement so we can continue to invest in scaling our capabilities in key areas like digital and data and analytics across the organization to accelerate change and build competitive advantages, while delivering bottom-line growth.”

Full Year 2025 Guidance

The company expects net sales to be roughly flat, including a mid-single-digit negative impact from foreign exchange and organic sales growth to be within its long-term targeted range of 3% to 5%, including the impact of the planned exit from private label pet nutrition over the course of 2025.