Organic sales increased 7.0% with growth in every division and all four categories.
GAAP EPS declined 1% to $0.74; Base Business EPS declined 9% to $0.74, both of which reflect a negative foreign exchange translation impact of $0.05. GAAP Gross profit margin and Base Business Gross profit margin both decreased 220 basis points to 57.2%
Net cash provided by operations was $1,883 million for the first nine months of 2022.
Colgate’s leadership in toothpaste continued with its global market share at 39.7% year-to-date. Colgate’s leadership in manual toothbrushes continued with its global market share at 31.6% year-to-date.
“We are very pleased to have delivered our 15th consecutive quarter of organic sales growth at or above our targeted range of 3% to 5%,” said Noel Wallace, chairman, president and CEO. “The consistent, strong, broad-based growth is evidence that our strategies are working. Our focus on science-led, core and premium innovation is providing value at all price points, which is particularly important in today’s difficult macroeconomic environment. Our investments in building and scaling our digital and other capabilities across the enterprise are also paying off with our revenue growth management initiatives helping to drive double-digit pricing worldwide.
He continued, “As expected, significant increases in raw and packaging material and logistics costs continued during the quarter and the negative impact from currency accelerated. Beyond revenue growth management and the significant pricing actions we are taking, we are also continuing our efforts around funding-the-growth and other productivity initiatives to help offset these headwinds.”