Colgate-Palmolive Company (CL) Management Presents at Morgan Stanley Global Consumer & Retail Conference (Transcript)

Colgate-Palmolive Company (NYSE:CL) Morgan Stanley Global Consumer & Retail Conference December 5, 2023 11:45 AM ET

Company Participants

Stan Sutula – CFO

Panos Tsourapas – Group President, Europe and Developing Markets

Conference Call Participants

Dara Mohsenian – Analyst

Dara Mohsenian

Thanks, everyone, for joining us. I’m Dara Mohsenian, Morgan Stanley’s Household Products and Beverage Analyst. I’m going to start just with quick disclosures. Please see the Morgan Stanley website for research disclosures.

And with that, I’m very pleased to welcome Colgate here today. With us are Panos Tsourapas. I think I pronounced your name right this time. All right. Good, who’s the Group President of Europe and Developed Markets, and Stan Sutula, who is the CFO.

And John and Hope are in the crowd here somewhere. So thanks very much for being here today. We appreciate it, guys.

Stan Sutula


Question-and-Answer Session

Q – Dara Mohsenian

So maybe we could just start on the Q3 call and in general, in recent quarters, you guys have spent some time talking about sort of consistent compounded top line but also bottom line performance. Why don’t we start on the top line? Obviously, strong performance here in the last couple of years, but that’s come during an environment when we’ve had outsized industry pricing. So — just as you think about the business, maybe starting from a top line standpoint, how sustainable is the strength that you’re seeing? How do you think about category growth versus Colgate market share as we look out over the next couple of years here?

Stan Sutula

So why don’t I start, and Panos can give some color on his markets in particular. So, we’ve executed 19 consecutive quarters of growth within our 3% to 5% or above our 3% to 5% long-term range. And certainly, pricing has helped. But over, through that time, we’ve made material investments into

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