Name: Colgate-Palmolive Co. (NYSE:CL) | Income Statement (Quarterly)
Creator: Stock Analysis on Net

Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

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Colgate-Palmolive Co., consolidated income statement (quarterly data)

US$ in millions

3 months ended:	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018
Net sales	4,822)	4,770)	4,629)	4,455)	4,484)	4,399)	4,403)	4,414)	4,260)	4,344)	4,324)	4,153)	3,897)	4,097)	4,015)	3,928)	3,866)	3,884)	3,811)	3,845)	3,886)	4,002)
Cost of sales	(2,035)	(2,058)	(2,055)	(1,907)	(1,930)	(1,827)	(1,844)	(1,791)	(1,704)	(1,707)	(1,681)	(1,613)	(1,528)	(1,632)	(1,601)	(1,612)	(1,558)	(1,597)	(1,558)	(1,576)	(1,585)	(1,594)
Gross profit	2,787)	2,712)	2,574)	2,548)	2,554)	2,572)	2,559)	2,623)	2,556)	2,637)	2,643)	2,540)	2,369)	2,465)	2,414)	2,316)	2,308)	2,287)	2,253)	2,269)	2,301)	2,408)
Selling, general and administrative expenses	(1,768)	(1,758)	(1,633)	(1,634)	(1,657)	(1,641)	(1,598)	(1,636)	(1,568)	(1,605)	(1,633)	(1,518)	(1,395)	(1,473)	(1,412)	(1,429)	(1,369)	(1,365)	(1,328)	(1,369)	(1,300)	(1,392)
Other income (expense), net	(45)	(45)	(18)	33)	(13)	(71)	(25)	(20)	8)	(28)	(41)	(4)	(28)	(40)	(71)	(31)	(51)	(43)	(34)	(26)	(55)	(33)
Goodwill and indefinite-lived intangible impairment charges	—)	—)	(721)	—)	—)	—)	(571)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Operating profit	974)	909)	202)	947)	884)	860)	365)	967)	996)	1,004)	969)	1,018)	946)	952)	931)	856)	888)	879)	891)	874)	946)	983)
Non-service related postretirement costs	(29)	(294)	(15)	(15)	(12)	(38)	(18)	(16)	(18)	(18)	(18)	(15)	(20)	(21)	(29)	(27)	(27)	(25)	(22)	(18)	(23)	(24)
Interest income (expense), net	(58)	(54)	(55)	(40)	(31)	(27)	(23)	(98)	(25)	(29)	(57)	(36)	(35)	(36)	(32)	(35)	(38)	(40)	(37)	(36)	(35)	(35)
Income before income taxes	887)	561)	132)	892)	841)	795)	324)	853)	953)	957)	894)	967)	891)	895)	870)	794)	823)	814)	832)	820)	888)	924)
Provision for income taxes	(353)	(147)	(89)	(210)	(202)	(192)	(136)	(172)	(212)	(229)	(202)	(222)	(216)	(147)	(188)	(167)	(205)	(214)	(189)	(258)	(213)	(246)
Net income including noncontrolling interests	534)	414)	43)	682)	639)	603)	188)	681)	741)	728)	692)	745)	675)	748)	682)	627)	618)	600)	643)	562)	675)	678)
Net income attributable to noncontrolling interests	(32)	(42)	(38)	(64)	(36)	(44)	(40)	(47)	(38)	(47)	(45)	(47)	(40)	(33)	(39)	(49)	(32)	(40)	(37)	(39)	(38)	(44)
Net income attributable to Colgate-Palmolive Company	502)	372)	5)	618)	603)	559)	148)	634)	703)	681)	647)	698)	635)	715)	643)	578)	586)	560)	606)	523)	637)	634)

The financial performance from March 2018 to June 2023 demonstrates a consistent trajectory of revenue growth, although overall profitability was periodically affected by significant non-recurring charges.

Revenue and Gross Profitability: Net sales exhibited a steady upward trend over the analyzed period, increasing from 4,002 million US dollars in March 2018 to 4,822 million US dollars by June 2023. Gross profit followed a similar growth pattern, rising from 2,408 million US dollars to 2,787 million US dollars. While both metrics increased, the cost of sales also rose from 1,594 million US dollars to 2,035 million US dollars, suggesting a gradual increase in the cost of goods sold relative to sales growth.
Operational Expenses and Operating Income: Selling, general, and administrative expenses showed a persistent increase, rising from 1,392 million US dollars in March 2018 to 1,768 million US dollars by June 2023. Operating profit generally remained stable, typically fluctuating between 800 million and 1,000 million US dollars. However, this stability was disrupted by substantial goodwill and indefinite-lived intangible impairment charges in the fourth quarters of 2021 and 2022, amounting to 571 million US dollars and 721 million US dollars respectively, which caused sharp, temporary declines in operating profit.
Net Income and Bottom-Line Volatility: Net income attributable to the company remained relatively consistent, generally ranging between 500 million and 700 million US dollars per quarter for most of the period. The volatility observed in operating profit flowed directly to the bottom line, with net income dropping to 148 million US dollars in December 2021 and further declining to 5 million US dollars in December 2022 due to the aforementioned impairment charges. Additionally, a significant spike in non-service related postretirement costs in March 2023, totaling 294 million US dollars, created a notable earnings dip during that quarter.
Other Financial Items: Interest expenses remained largely stable, although a peak of 98 million US dollars was recorded in September 2021. Other income and expenses fluctuated throughout the period but remained immaterial relative to total net sales. Provision for income taxes followed the general trend of pre-tax income, with a significant decrease in December 2022 corresponding to the lower income before taxes resulting from impairment charges.

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Colgate-Palmolive Co. (NYSE:CL)

Income StatementQuarterly Data

Income Statement
Quarterly Data