Colgate-Palmolive Co. reported third-quarter net sales of $4.41 billion, up 6.5% year-over-year.
Colgate-Palmolive reported second-quarter operating profit of $967 million, or $0.75 per share, a 5% drop from the same period last year. In North America, Colgate-Palmolive's net sales increased 1%, while its Europe and Asia Pacific divisions posted similar increases. The company's Latin America segment recorded an 11% increase in net sales.
For the company, Latin America represents 21% of total sales. Organic sales growth was led by Mexico, Brazil, Colombia and Argentina.
The decrease in operating profit as a percentage of net sales was primarily due to significantly higher raw material and packaging material costs and higher overhead, driven by higher logistics costs, partially offset by cost savings from the Company's growth financing initiatives, higher prices, and decreased ad spend.