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Colgate-Palmolive recorded sales of $5.065 billion (approximately €4.716 billion) in the first quarter of 2024, an increase of 6.2% compared to the previous year (+9.8% organic growth).
In addition, the company specialized in the hygiene category saw an increase in operating profit by 15.2% compared to the first quarter of the previous year, reaching 1,047 million dollars (975 million euros).
By region, in North America – which represents 20% of the company’s sales – the company increased sales by 4%, while in Latin America (25% share) and Europe (14%) the overall growth was the most notable of the year. respectively 16.5% and 9.5%.
Asia-Pacific (14% of sales) saw a 1.5% drop in turnover, while Africa/Eurasia (5%) also saw a 4.5% drop.
“We are pleased to have started 2024 with another quarter of strong revenue and earnings performance as we continue to successfully execute on our strategy“, explains the company’s president and CEO, Noel Wallace.
As a result, the company updated its full-year growth guidance, estimating net sales growth between 2% and 5%, compared to the 1% to 4% range previously forecast. Organic growth will be between 5% and 7%.
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