Colgate-Palmolive Company's (CL) Q2 2022 Earnings Call Transcript

For the period ending June 30, 2022

July 29, 2022 8:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good day. And welcome to today’s Colgate-Palmolive Company’s Second Quarter 2022 Earnings Conference Call. This call is being recorded and it’s being simulcast live at www.colgatepalmolive.com.

Now for opening remarks, I would like to turn the call over to the Chief Investor Relations Officer and Senior Vice President, M&Q, John Faucher. Please go ahead, John. Thank you.

John Faucher - Chief IR Officer and SVP, M&Q

Thanks, Caroline. Good morning. And welcome to our 2022 second quarter earnings release conference call. This is John Faucher.

Today’s conference call will include forward-looking statements. Actual results could differ materially from these statements. Please refer to the earnings press release and earnings materials and our most recent filings with the SEC, including our 2021 annual report on Form 10-K and subsequent SEC filings, all available on Colgate’s website, for a discussion of the factors that could cause actual results to differ materially from these statements.

This conference call will also include a discussion of non-GAAP financial measures including those identified in Tables 8 and 9 of the earnings press release. A full reconciliation to the corresponding GAAP financial measures is included in the earnings press release and is available on Colgate’s website.

Joining me on the call this morning are Noel Wallace, Chairman, President and Chief Executive Officer; and Stan Sutula, Chief Financial Officer. Noel will now provide you with his thoughts on our Q2 results and our 2022 outlook. We will then open it up for Q&A. Noel?

Noel Wallace - Chairman, President and CEO

Thanks, John, and thanks to all of you for joining us this morning. I am delighted to share with you our second quarter results. On the first quarter call, I talked about my confidence that our organic sales growth would accelerate from our first quarter results. Some of this was due to the improvement in trends in February, March and April that we discussed on the call. But what really gives me confidence is the fundamental changes Colgate people have made to drive growth, which is why we are raising our organic sales growth guidance to 5% to 7% for 2022.

Our second quarter results including double-digit organic sales growth in Oral Care and Pet Nutrition, show that the growth strategies we put in place three years ago are delivering on our objectives and how the power of our global portfolio is working.