Colgate-Palmolive Co. Q4 FY2023 results: revenue $5.0 billion, up 6.9% on the year

Colgate-Palmolive Co. (CL) reported revenue of $5.0 billion for Q4 FY2023, the quarter ended 31 December 2023, up 6.9% on the same quarter a year earlier. Net income was $718 million, up 14260.0% on the year, and diluted earnings per share $0.86. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2024.

Revenue$5.0 billionup 6.9%

Net income$718 millionup 14260.0%

Diluted EPS$0.86

QuarterQ4 FY2023ended 31 December 2023

The quarter, against the one before and a year earlier

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Revenue	4,950	4,915	n/a	n/a
Cost of revenue	2,000	2,038	n/a	n/a
Gross profit	2,950	2,877	n/a	n/a
Gross margin	59.6%	58.5%	n/a
Selling, general and administrative	1,803	1,822	n/a	n/a
Operating income	1,072	1,029	n/a	n/a
Operating margin	21.7%	20.9%	n/a
Pre-tax income	988	956	n/a	n/a
Income tax	228	209	n/a	n/a
Effective tax rate	23.1%	21.9%	n/a
Net income	718	708	n/a	n/a
Net margin	14.5%	14.4%	n/a
Diluted EPS	$0.86	$0.86	n/a	n/a

$ million except per share. Fourth quarters are the year less the first three quarters. 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

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Operating cash flow	1,136	1,152	n/a	n/a
Capital expenditure	197	161	n/a	n/a
Free cash flow	939	991	n/a	n/a
Free cash flow margin	19.0%	20.2%	n/a
Depreciation and amortisation	150	144	n/a	n/a
Share-based compensation	25.0	60.0	n/a	n/a
Buybacks	245	332	n/a	n/a
Dividend per share	n/a	$0.48	n/a	n/a
Diluted shares, weighted	829m	827m	n/a	n/a
Shares outstanding at period end	821m	823m	n/a	n/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

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Total assets	16,393	16,043	n/a	n/a
Cash and equivalents	966	951	n/a	n/a
Receivables	1,586	1,577	n/a	n/a
Inventory	1,934	1,931	n/a	n/a
Goodwill	3,410	3,327	n/a	n/a
Long-term debt	8,219	8,690	n/a	n/a
Operating lease liabilities	420	n/a	n/a	n/a
Shareholders' equity	609	-9.0	n/a	n/a

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	4,915	4,950	5,065	5,058	5,033	4,945	4,911	5,110	5,131	5,230	5,324	5,361
Cost of revenue	2,038	2,000	2,026	1,992	1,959	1,963	1,924	2,041	2,082	2,084	2,098	2,065
Gross profit	2,877	2,950	3,039	3,066	3,074	2,982	2,987	3,069	3,049	3,146	3,226	3,296
Gross margin	59%	60%	60%	61%	61%	60%	61%	60%	59%	60%	61%	61%
SG&A	1,822	1,803	1,916	1,939	1,979	1,895	1,898	1,963	1,971	2,071	2,076	2,130
Operating income	1,029	1,072	1,047	1,092	1,065	1,064	1,076	1,080	1,059	91.0	964	1,016
Operating margin	21%	22%	21%	22%	21%	22%	22%	21%	21%	2%	18%	19%
Interest expense	n/a	n/a	73.0	78.0	74.0	67.0	66.0	71.0	67.0	63.0	62.0	62.0
Pre-tax income	956	988	967	1,010	986	993	953	1,007	992	107	892	950
Tax rate	22%	23%	25%	24%	21%	22%	24%	23%	23%	104%	24%	24%
Net income	708	718	683	731	737	738	690	743	735	-36.0	646	693
Net margin	14%	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 flow	1,152	1,136	681	990	1,167	1,269	600	884	1,261	1,453	747	995
Capital expenditure	161	197	126	117	134	184	124	108	155	177	138	128
Free cash flow	991	939	555	873	1,033	1,085	476	776	1,106	1,276	609	867
Buybacks	332	245	509	480	295	455	284	232	288	406	306	291
Shares outstanding	823m	821m	820m	817m	817m	813m	810m	808m	806m	801m	800m	797m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-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-K for the period ended 31 December 2023, filed 15 February 2024, accession 0000021665-24-000003: the filing on EDGAR. All of Colgate-Palmolive Co.'s filings: EDGAR company page.

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