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Colgate-Palmolive Co CL Stock Quote

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Morningstar‘s Stock Analysis CL

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While Inflation Rages, Colgate's Dominant Competitive Edge Should Enable It to Withstand Headwinds

Erin Lash, CFA Sector Director

Business Strategy and Outlook

| Erin Lash, CFA |

While headwinds abound stemming from rampant cost inflation and a strangled global supply chain, we think Colgate-Palmolive is navigating the uncertain landscape quite astutely. Under the leadership of CEO Noel Wallace, the firm's strategic focus has centered on elevating research, development, and marketing spending (on its core mix, in adjacent categories, and throughout the digital realm) and responding to evolving consumer preferences more expeditiously (bringing products to market in just six to 12 months in some cases, down from 18-36 months historically). The prudence of this course has been evident as Colgate has chalked up 14 consecutive quarters at or above its 3%-5% long-term organic sales growth target. We attribute these results to the firm’s renewed focus on consumer-valued innovation, even that which comes with a higher price, as well as cultivating its fare with elevated brand spending (expending nearly 12% of sales toward marketing in each of the past two years, 130 basis points above the level directed in 2017-19).

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Company Profile CL

Business Description

Since its founding in 1806, Colgate-Palmolive has grown to become a leading global consumer product company. In addition to its namesake oral care line, the firm manufactures shampoos, shower gels, deodorants, and home care products that are sold in over 200 countries (international sales account for about 70% of its consolidated total, including approximately 45% from emerging regions). It also owns specialty pet food maker Hill's, which sells its products through veterinarians and specialty pet retailers.

Contact
300 Park Avenue
New York, NY, 10022-7499
T +1 212 310-2000
Industry Household & Personal Products
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Stock Type Slow Growth
Employees 33,800

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