NEW YORK — Colgate-Palmolive announced on Thursday that it experienced a boost in third-quarter sales and net income as its global market shares in toothpaste and manual toothbrushes both hit record highs year to date.
Worldwide net sales totaled $4.38 billion, up 11% compared with the year-ago period. Organic sales rose 5%.
Net income during the quarter rose 4% to $643 million, or $1.31 per diluted share, compared with $619 million, or $1.21 per diluted share, in the year-ago period. Excluding certain items, such as the after tax gain from the sale of its laundry detergent brands in Colombia, net income was $641 million, an increase of 4% versus third quarter 2010.
In North America, which accounts for 18% of company sales, sales rose 3% as organic sales rose 2.5% during the quarter. Operating profit in North America decreased 5% in the quarter to $213 million, or 27.4% of net sales.
In the United States, new product launches, including Colgate Optic White and Colgate Sensitive Pro-Relief toothpastes and the relaunch of Colgate Total toothpaste, are strengthening the company’s leadership in toothpaste, with its share of that market reaching 35.8% year to date, up 0.5 share points versus year ago. Colgate noted that its strength in manual toothbrushes also continued, driven by Colgate 360 Optic White, Colgate 360 Sensitive Pro-Relief and Colgate 360 Surround manual toothbrushes.
“Colgate’s global market share in toothpaste and manual toothbrushes are both at record highs year to date. Colgate’s share of the global toothpaste market strengthened to 44.4% year to date, up 0.3 share points versus year ago,” stated Ian Cook, chairman, president and CEO. “Our global leadership in manual toothbrushes also strengthened during the quarter with Colgate’s global market share in that category reaching 31.8% year to date, up 0.5 share points versus year ago.”