Colgate-Palmolive reported second-quarter revenue of $5.36 billion, matching analyst estimates, while adjusted earnings per share of $0.99 beat the consensus of $0.95. Organic revenue rose 2.4% year over year, missing expectations, and sales volumes were flat as operating margin contracted to 19% from 21.1% a year earlier. CEO Noel Wallace called the U.S. performance unsatisfactory, citing heightened competition and consumer uncertainty, while highlighting strength in emerging markets and the Hill's pet nutrition business. On the earnings call, analysts pressed management on Hill's resilience, gross margin sustainability, the volume-price balance, the decision not to raise organic sales guidance, and the strategy for the Hill's Prime fresh pet food launch.
Colgate-Palmolive CompanyU.S. sales pressures and competition cited as unsatisfactory, offsetting emerging market strength.
