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Colgate-Palmolive Q3 profit falls YOY

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Colgate-Palmolive Q3 profit falls YOY

Colgate-Palmolive Co. said its third-quarter normalized net income was 64 cents per share, compared with the S&P Capital IQ consensus estimate of 73 cents per share.

In the prior-year period, the per-share result came in at a profit of 65 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $579.1 million, a decline from $586.0 million in the prior-year period.

The normalized profit margin increased to 15.0% from 14.7% in the year-earlier period.

Total revenue declined on an annual basis to $3.87 billion from $4.00 billion, and total operating expenses declined 4.9% year over year to $2.85 billion from $2.99 billion.

Reported net income fell on an annual basis to $701.4 million, or 78 cents per share, from $725.5 million, or 80 cents per share.