Colgate-Palmolive Company (NYSE:CL) today reported worldwide Net sales of $4,267 million in second quarter 2012, an increase of 2.0% versus second quarter 2011. Global unit volume grew 5.0%, pricing increased 3.5% and foreign exchange was negative 6.5%. Excluding divested businesses, global unit volume grew 5.5%. The Sanex acquisition contributed 1.0% to sales and volume growth. Organic sales (Net sales excluding foreign exchange, acquisitions and divestments) grew 8.0%.
Net income and Diluted earnings per share in second quarter 2012 were $627 million and $1.30, respectively. Net income in the quarter included $14 million of aftertax charges ($0.03 per diluted share) resulting from the implementation of the previously disclosed business realignment and other cost-saving initiatives (“business realignment initiatives”) and costs associated with the sale of land in Mexico. Net income and Diluted earnings per share in second quarter 2011 were $622 million and $1.26, respectively.
Excluding the above noted items, Net income in second quarter 2012 was $641 million, an increase of 3% versus second quarter 2011, and Diluted earnings per share in second quarter 2012 was $1.33, an increase of 6% versus second quarter 2011.
Gross profit margin was 57.7% in second quarter 2012, an increase of 30 basis points versus the year ago quarter. Excluding the above noted items, gross profit margin was 57.9% in second quarter 2012, an increase of 50 basis points versus the year ago quarter, as higher pricing and cost savings from the Company’s funding-the-growth initiatives more than offset the impact of increases in raw and packaging material costs and negative foreign exchange transaction costs.Selling, general and administrative expenses were 34.3% and 34.0% of Net sales in second quarter 2012 and 2011, respectively. Excluding costs associated with the business realignment initiatives, Selling, general and administrative expenses were 34.2% of Net sales in second quarter 2012, driven entirely by increases in advertising. Worldwide advertising spending increased 4% versus the year ago quarter to $457 million.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV