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Colgate-Palmolive Q1 profit falls 6.5% YOY

Colgate-Palmolive Co. said its first-quarter normalized net income amounted to 58 cents per share, compared with the S&P Capital IQ consensus estimate of 63 cents per share.

EPS decreased year over year from 60 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $517.8 million, a decline of 6.5% from $554.0 million in the year-earlier period.

The normalized profit margin climbed to 13.8% from 13.6% in the year-earlier period.

Total revenue decreased 7.6% year over year to $3.76 billion from $4.07 billion, and total operating expenses fell 8.7% on an annual basis to $2.84 billion from $3.11 billion.

Reported net income came to $531.1 million, or 59 cents per share, compared to $540.6 million, or 59 cents per share, in the prior-year period.