NEW YORK — Colgate-Palmolive Company on Jan. 31 announced its fourth quarter earnings from the period ending Dec. 31, 2019. The company’s pet segment, Hill’s Pet Nutrition, reported $680 million in net sales, up 8% over year-ago revenue.
Hill’s also reported organic sales growth of 8.5% and an 8% increase in operating profit from year-ago earnings.
“This increase in operating profit as a percentage of net sales was primarily due to an increase in other (income) expense, net, partially offset by an increase in selling, general and administrative expenses, both as a percentage of net sales,” the company reported.
Gains were largely attributed to various offsets, with successful product development driving sales in the US following Hill’s release of new formulas, kibble shapes and package designs for its Science Diet line in early 2019. Hill’s treat products and Prescription Diet Gastrointestinal Biome also contributed to healthy US sales.
International sales benefitted from products including Hill’s Prescription Diet stew and gastrointestinal biome products, as well as the Science Diet revamp, Colgate-Palmolive reported.
Overall, Colgate-Palmolive reported $4.02 billion in net sales over the quarter. Hill’s Pet Nutrition segment makes up approximately 17% of the company’s total quarterly revenue, up slightly from 16.5% in the fourth quarter of 2018.
Read Colgate-Palmolive’s full fourth quarter earnings report. Stay tuned for more details about Hill’s Pet Nutrition at the company’s presentation during CAGNY 2020 on Friday, Feb. 21.
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