Colgate-Palmolive Company announced unaudited consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported net sales of $3,762 million against $3,762 million a year ago. Operating profit was $885 million against $867 million a year ago. Income before income taxes was $862 million against $839 million a year ago. Net income attributable to the company was $570 million or $0.64 per diluted share against $533 million or $0.59 per diluted share a year ago. Net cash provided by operations was $691 million compared to $614 million for the same period a year ago. Capital expenditures were $121 million against $114 million a year ago. Operating profit, non-GAAP was $931 million against $922 million a year ago. Net income attributable to the company non-GAAP was $601 million or $0.67 per diluted share against $571 million or $0.63 per diluted share a year ago.

As the company look ahead, uncertainty in global markets and slowing category growth worldwide remain challenging. While based on current spot rates, the company continues to expect a low-single-digit net sales increase for 2017, based on slow start to the year, now expect organic sales growth for 2017 to be modestly below 4% - 7% range with sequential improvement throughout the year. On a GAAP basis, based on current spot rates, the company is planning for a year of gross margin expansion and expect earnings per share on a dollar basis to be flat.