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Colgate-Palmolive Q2 profit falls 5.7% YOY


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Colgate-Palmolive Q2 profit falls 5.7% YOY

Colgate-Palmolive Co. said its second-quarter normalized net income amounted to 63 cents per share, compared with the S&P Capital IQ consensus estimate of 70 cents per share.

EPS fell year over year from 66 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $579.3 million, a decline of 5.7% from $614.1 million in the prior-year period.

The normalized profit margin increased to 14.2% from 14.1% in the year-earlier period.

Total revenue decreased 6.6% on an annual basis to $4.07 billion from $4.35 billion, and total operating expenses declined 7.0% year over year to $3.07 billion from $3.30 billion.

Reported net income declined 7.3% year over year to $574.8 million, or 63 cents per share, from $620.4 million, or 67 cents per share.