Colgate-Palmolive Co. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016
January 27, 2017 at 06:55 am EST
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Colgate-Palmolive Co. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported net sales of $3,721 million compared to $3,899 million a year ago. Operating profit was $955 million compared to operating loss of $139 million a year ago. Profit before income taxes was $934 million compared to loss of $146 million a year ago. Net income attributable to the company was $606 million or $0.68 per basic and diluted share compared to loss of $458 million or $0.51 per diluted share a year ago. Non-GAAP operating profit was $1,038 million compared to $1,015 million a year ago. Non-GAAP net income attributable to the company was $667 million compared to $655 million a year ago. Non-GAAP diluted earnings per common share were $0.75 compared to $0.73 a year ago.
For the year, the company reported net sales of $15,195 million compared to $16,034 million a year ago. Operating profit was $3,837 million compared to $2,789 million a year ago. Income before income taxes was $3,738 million compared to $2,763 million a year ago. Net income attributable to the company was $2,441 million compared to $1,384 million a year ago. Diluted earnings per share were $2.72 compared to $1.52 a year ago. Net cash provided by operations was $3,141 million compared to $2,949 million a year ago. Capital expenditures were $593 million compared to $691 million a year ago. Non-GAAP operating profit was $3,985 million compared to $3,988 million a year ago. Non-GAAP net income attributable to the company was $2,522 million compared to $2,556 million a year ago. Non-GAAP diluted earnings per common share were $2.81 compared to $2.81 a year ago.
Colgate-Palmolive Company is one of the worldwide leaders in the manufacturing and marketing of cleaning and hygiene products. The group also products and sells pet food (dogs and cats). Net sales break down by family of products as follows:
- hygiene and cleaning products (78%): oral hygiene (toothpaste, toothbrushes, mouthwashes, etc.; Colgate brand), body care (soaps, shower gels, shampoos, conditioners, deodorants, shaving products, etc.; Palmolive, Speed Stick, Softsoap, etc.), household care, and linen care (dishwashing liquids, detergents, stain removers, fabric softeners, bleach, etc.; Palmolive, Ajax, Soupline, Suavitel, etc.). Net sales are distributed geographically as follows: North America (25.9%), Latin America (30.6%), Asia-Pacific (18.3%), Europe (18.1%), Africa and Eurasia (7.1%);
- cat and dog foods (22%; Hill's): world leader.