Colgate-Palmolive Company (NYSE:CL) Q4 2023 Earnings Call Transcript January 26, 2024 8:30 AM ET

Company Participants

John Faucher - Chief Investor Relations Officer & Executive Vice President, M&A

Noel Wallace - Chairman, President and Chief Executive Officer

Stan Sutula - Chief Financial Officer

Conference Call Participants

Dara Mohsenian - Morgan Stanley

Bryan Spillane - Bank of America

Andrea Teixeira - JP Morgan

Filippo Falorni - Citi

Callum Elliott - Bernstein

Steve Powers - Deutsche Bank

Peter Grom - UBS

Nik Modi - RBC Capital Markets

Chris Carey - Wells Fargo

Olivia Tong - Raymond James

Kaumil Gajrawala - Jefferies

Lauren Lieberman - Barclays

Mark Astrachan - Stifel

Robert Ottenstein - Evercore ISI

Edward Lewis - Redburn Atlantic

Operator

Good morning. Welcome to today's Colgate-Palmolive Fourth Quarter and Full Year 2023 Earnings Conference Call. This call is being recorded and is being simulcast live at www.colgatepalmolive.com. Now, for opening remarks, I'd like to turn this call over to Chief Investor Relations Officer and Executive Vice President, M&A, John Faucher.

John Faucher

Thanks, Betsy. Good morning, and welcome to our fourth quarter in full year 2023 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 Q4 and full year 2023 earnings press release and related prepared materials and our most recent filings with the SEC, including our 2022 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 4, 6, 7, 8, and 9 of the earnings press release. A full reconciliation to the corresponding GAAP financial measures is included in the Q4 2023 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 provide you with some thoughts on our Q4 and full year results and our 2024 outlook. We will then open it up for Q&A. Noel?

Noel Wallace

Thanks, John, and good morning, everyone, and thanks for joining us to discuss our strong finish to a very good year in 2023 and our positive outlook for 2024. Over the past two years, we've been particularly focused on sustaining our strong organic sales growth while rebuilding our margins and improving our cash flow performance. We delivered on all three of those goals this year while still investing behind advertising to strengthen our brands and building and scaling capabilities to deliver future growth.