Colgate-Palmolive Company (CL) 4th Annual Evercore ISI Consumer and Retail Conference summary

Operating environment and performance

• Achieved constructive global operating environment with continued pricing power and volume growth in Q1 2024.

• Volume growth of 1.3% in Q1, despite headwinds from private label declines at Hill's.

• Investments in brand advertising and innovation are yielding improved ROI and market share.

• Strategy focuses on balanced top-line growth, compounded EPS, and top-tier TSR.

• Positive momentum continues into Q2, supported by retail partner feedback and market fundamentals.

Regional and category strategies

• Latin America shows strong, balanced growth due to early pricing actions and high market shares, especially in Mexico and Brazil.

• Gross margin restoration in Latin America enabled reinvestment and sustained volume, pricing, and profit growth.

• Currency volatility in Mexico is monitored, but underlying business remains robust across the region.

• European strategy leverages Elmex and Meridol brands, focusing on therapeutic segments and pharmacy channels.

Innovation, premiumization, and whitening

• Emphasis on science-driven innovation, especially in whitening, has led to category and market share growth.

• MPS technology enables whitening product launches in markets with regulatory constraints.

• Data analytics enhance household penetration and marketing effectiveness, with digital outperforming traditional TV.

• Premiumization and channel strategies are managed to drive both top-line and, over time, margin accretion.