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Colgate-Palmolive Co. Q3 FY2023 results: revenue $4.9 billion, up 10.3% on the year

Colgate-Palmolive Co. (CL) reported revenue of $4.9 billion for Q3 FY2023, the quarter ended 30 September 2023, up 10.3% on the same quarter a year earlier. Net income was $708 million, up 14.6% on the year, and diluted earnings per share $0.86. The figures are the company's own, from the 10-Q it filed with the SEC on 27 October 2023.

Revenue$4.9 billionup 10.3%
Net income$708 millionup 14.6%
Diluted EPS$0.86
QuarterQ3 FY2023ended 30 September 2023

The quarter, against the one before and a year earlier

LineQ3 FY2023Quarter beforeA year earlierChange on the year
Revenue4,915n/an/an/a
Cost of revenue2,038n/an/an/a
Gross profit2,877n/an/an/a
Gross margin58.5%n/an/a
Selling, general and administrative1,822n/an/an/a
Operating income1,029n/an/an/a
Operating margin20.9%n/an/a
Pre-tax income956n/an/an/a
Income tax209n/an/an/a
Effective tax rate21.9%n/an/a
Net income708n/an/an/a
Net margin14.4%n/an/a
Diluted EPS$0.86n/an/an/a

$ million except per share. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

LineQ3 FY2023Quarter beforeA year earlierChange on the year
Operating cash flow1,152n/an/an/a
Capital expenditure161n/an/an/a
Free cash flow991n/an/an/a
Free cash flow margin20.2%n/an/a
Depreciation and amortisation144n/an/an/a
Share-based compensation60.0n/an/an/a
Buybacks332n/an/an/a
Dividend per share$0.48n/an/an/a
Diluted shares, weighted827mn/an/an/a
Shares outstanding at period end823mn/an/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ3 FY2023Quarter beforeA year earlierChange on the year
Total assets16,043n/an/an/a
Cash and equivalents951n/an/an/a
Receivables1,577n/an/an/a
Inventory1,931n/an/an/a
Goodwill3,327n/an/an/a
Long-term debt8,690n/an/an/a
Shareholders' equity-9.0n/an/an/a

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue4,9154,9505,0655,0585,0334,9454,9115,1105,1315,2305,3245,361
Cost of revenue2,0382,0002,0261,9921,9591,9631,9242,0412,0822,0842,0982,065
Gross profit2,8772,9503,0393,0663,0742,9822,9873,0693,0493,1463,2263,296
Gross margin59%60%60%61%61%60%61%60%59%60%61%61%
SG&A1,8221,8031,9161,9391,9791,8951,8981,9631,9712,0712,0762,130
Operating income1,0291,0721,0471,0921,0651,0641,0761,0801,05991.09641,016
Operating margin21%22%21%22%21%22%22%21%21%2%18%19%
Interest expensen/an/a73.078.074.067.066.071.067.063.062.062.0
Pre-tax income9569889671,0109869939531,007992107892950
Tax rate22%23%25%24%21%22%24%23%23%104%24%24%
Net income708718683731737738690743735-36.0646693
Net margin14%15%13%14%15%15%14%15%14%-1%12%13%
Diluted EPS$0.86$0.86$0.83$0.89$0.90$0.89$0.85$0.91$0.91-$0.04$0.80$0.86
Operating cash flow1,1521,1366819901,1671,2696008841,2611,453747995
Capital expenditure161197126117134184124108155177138128
Free cash flow9919395558731,0331,0854767761,1061,276609867
Buybacks332245509480295455284232288406306291
Shares outstanding823m821m820m817m817m813m810m808m806m801m800m797m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 September 2023, filed 27 October 2023, accession 0000021665-23-000037: the filing on EDGAR. All of Colgate-Palmolive Co.'s filings: EDGAR company page.

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