Stock Analysis on Net

Colgate-Palmolive Co. (NYSE:CL)

This company has been moved to the archive! The financial data has not been updated since July 28, 2023.

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.

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

US$ in millions

Microsoft Excel
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

Based on: 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).


Net Sales Trend
Net sales show a generally increasing trend over the periods analyzed, rising from approximately 4002 million USD at the start in March 2018 to 4822 million USD by June 2023. Some fluctuations are present within quarters, but the overall trajectory is upward, indicating growth in revenue generation.
Cost of Sales Trend
The cost of sales has also increased over time, from about 1594 million USD in March 2018 to around 2035 million USD in June 2023. Although this trend follows sales growth, the cost increases moderately and shows some short-term fluctuations without a clear seasonal pattern.
Gross Profit Dynamics
Gross profit has generally increased from 2408 million USD in March 2018 to 2787 million USD by June 2023. This signifies improved profitability at the gross margin level, despite occasional minor declines. The gross profit margin appears relatively stable, benefitting from sales growth outpacing cost increases.
Operating Expenses
Selling, general and administrative expenses exhibit a rising trend, increasing from roughly 1392 million USD to approximately 1768 million USD over the period. The expenses move upward consistently, suggesting increased spending possibly related to expanded operations or inflationary pressures.
Other Income (Expense), Net
Other income and expense data fluctuate considerably, with negative values predominating in most quarters. There are occasional positive spikes, but no clear trend emerges, indicating variance in non-operational income and costs that do not follow a consistent path.
Goodwill and Intangible Impairment Charges
Two notable impairment charges are observed: a significant charge of 571 million USD in June 2021 and an even larger charge of 721 million USD in March 2023. These extraordinary losses indicate impairment of assets particularly in those periods.
Operating Profit Pattern
Operating profit shows moderate variability, starting near 983 million USD in March 2018 and ending close to 974 million USD in June 2023, despite a sharp decline to 365 million USD observed in December 2021, likely related to the impairment charge occurring around that period. Otherwise, operating profits remain relatively stable with minor fluctuations.
Non-Service Related Postretirement Costs
These costs generally remain consistent at moderate negative amounts each quarter, with an abrupt spike to -294 million USD in March 2023, coinciding with the large impairment charge noted earlier, suggesting extraordinary pension-related expenses during that time.
Interest Income (Expense), Net
Interest expense remains fairly stable, fluctuating between -23 million USD and -98 million USD, with no clear increasing or decreasing trend. A notable peak in interest expense occurs in September 2021, which may reflect changes in debt or interest rates at that time.
Income Before Income Taxes
Income before taxes largely follows the operating profit trend but shows additional volatility. It decreases notably in December 2021 but recovers by mid-2023. The range fluctuates between approximately 820 million USD and 957 million USD in most quarters, with a low of 132 million USD in March 2023 corresponding to the impairment charge period.
Provision for Income Taxes
The provision for income taxes fluctuates in line with income before taxes, generally ranging between 136 million USD and 246 million USD. In March 2023, tax provision spikes to 353 million USD, likely influenced by the impairment losses and related tax impact.
Net Income Trend
Net income attributable to the company exhibits variability with some significant declines and partial recoveries. Starting near 634 million USD in March 2018, it dips sharply to 148 million USD in December 2021 and further to 5 million USD in March 2023, before recovering modestly in the subsequent periods. The declines correspond with impairment charges and higher expenses noted in these quarters.
Summary of Key Observations
The financial data reflects steady sales and gross profit growth over time, accompanied by rising operating expenses. Periodic large impairment charges and related extraordinary expenses heavily impacted profitability in late 2021 and early 2023. Despite these setbacks, operating profit and net income show resilience and recovery tendencies following these events. Non-operating income and interest expenses fluctuate but do not show systematic trends. Overall, the company demonstrates growth with episodic challenges related to asset impairments and elevated costs.