Colgate-Palmolive (NYSE:CL) just notched a major milestone, crossing $20 billion in net sales for the first time. Despite currency headwinds and weaker private label pet sales, organic sales surged 7.4%, driving double-digit gains in net income and earnings per share. The company tightened its grip on the global oral care market, with toothpaste commanding a 41.4% share. CEO Noel Wallace called 2024 a year of "peer-leading growth," highlighting Colgate's ability to scale while investing in brand strength and innovation.

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The fourth quarter wasn't without challengesnet sales dipped 0.1%but organic sales still climbed 4.3% on strong pricing and operational efficiency. Gross margins improved by 70 basis points to 60.3%, fueled by disciplined cost control and a 15% jump in advertising spend. Growth was uneven across regions: Asia Pacific and Europe posted solid gains, while Latin America saw a 7.2% decline, largely due to currency fluctuations. Meanwhile, Hill's Pet Nutrition delivered a 2.3% increase in net sales, reinforcing its role as a key growth driver.

Looking ahead, Colgate expects currency headwinds to keep reported sales flat in 2025 but remains confident in hitting its long-term 3%5% organic growth target. Management is doubling down on digital capabilities and product innovation to stay ahead, positioning Colgate as a steady compounder in the consumer staples space. With a track record of resilient earnings growth and a disciplined capital allocation strategy, CL remains a name to watch.