Colgate-Palmolive Company reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2018. For the quarter, the company reported net sales of $3,845 million compared to $3,974 million a year ago. Operating profit was $874 million compared to $957 million a year ago. Income before income taxes was $820 million compared to $900 million a year ago. Net income attributable to the company was $523 million compared to $607 million a year ago. Diluted earnings per share were $0.60 compared to $0.68 a year ago. Non-GAAP operating profit was $899 million compared to $1,004 million a year ago. Non-GAAP income before income tax was $846 million compared to $958 million a year ago. Non-GAAP net income attributable to the company was $625 million compared to $646 million a year ago. Non-GAAP diluted earnings per share were $0.72 compared to $0.73 a year ago.

For the nine months, the company reported net sales of $11,733 million compared to $11,562 million a year ago. Operating profit was $2,803 million compared to $2,747 million a year ago. Income before income taxes was $2,632 million compared to $2,591 million a year ago. Net income attributable to the company was $1,794 million compared to $1,701 million a year ago. Diluted earnings per share were $2.05 compared to $1.91 a year ago. Net cash provided by operations was $2,194 million compared to $2,295 million a year ago. Capital expenditures were $321 million compared to $382 million a year ago. Non-GAAP operating profit was $2,910 million compared to $2,980 million a year ago. Non-GAAP income before income tax was $2,747 million compared to $2,837 million a year ago. Non-GAAP net income attributable to the company was $1,952 million compared to $1,886 million a year ago. Non-GAAP diluted earnings per share were $2.23 compared to $2.12 a year ago.

For 2018, on a GAAP basis, based on current spot rates and including the impact of the Global Growth and Efficiency Program, the company expects lower gross margin and double-digit earnings per share growth versus 2017. Excluding charges resulting from the Global Growth and Efficiency Program, charges related to U.S. tax reform and the benefit from a foreign tax matter in 2018, based on current spot rates, the company is planning for a year of continued strong operating cash flow, lower gross margin, sustained advertising investment and 3-4% earnings per share growth versus 2017.

Based on current spot rates, for the 2018 fourth quarter the company expects a low-single-digit net sales decrease due to foreign exchange and low-single-digit organic sales growth.