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Delaying Price Increases Dragged Down Colgate’s Q1 Results As Supply Costs Continue Climbing

 
• By Eileen Francis

High costs pummeled Q1 results down 17.9% to $559m. Net sales were up 1.5% to $4.39bn, with price hikes made late in quarter driving a 4% increase in organic sales. Hong Kong firm Hawley & Hazel Co., 50% owned by Colgate since 1985, relaunches Chinese name of its Darlie brand oral care line as Haolai.

• Source: Shutterstock

Colgate-Palmolive Co.’s more cautious approach than its competitors to increasing product prices in response to growing supply chain and commodity costs dragged down its first-quarter earnings and prompted lowering its earnings target for 2022.

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