Management remarks
Call period: 2026 Q2 · 2026-07-31
Guidance: Claire Ross: Noel will provide you with his thoughts on our results and our 2026 outlook.Demand and orders: Noel Wallace: That being said, our businesses continue to do well, particularly our Colgate China business now consistently delivering mid-single-digit performance, good volume performance in the quarter, particularly out of our CP China business, despite a significant amount of disruption in that market in terms of new platforms, declines in brick-and-mortar shifts to e-commerce as a result and some very aggressive competitive environments as well.Margins: Noel Wallace: Clearly, gross margin was strong in the quarter, up 100 basis points, as you point out, up 90 basis points versus the previous quarter as well. So we got a little bit of a modest benefit from refunds, but the bulk of the growth definitely came through our core business and some of the initiatives that we're taking around the world.Analyst Q&A
Analyst Peter Grom asked: Maybe now to my real question, I was hoping to ask about gross margin. You noted in the prepared remarks some benefits from refunds in the quarter. But even after backing that out, it was a pretty strong result. So maybe can you unpack how that came in relative to your expectations? Management Noel Wallace answered: So our teams on the ground are executing pricing and revenue growth management and using all of our tools to generate profit growth as we look to increase the advertising, as you saw in the quarter. So that clearly is happening. And we'll continue, obviously, to focus on the elements of our revenue growth management. Our Promo AI tools are being scaled around the world. We're seeing benefits from that. We had strong funding the growth in the quarter, doubling down on that as we move forward.管理层陈述
电话会期间：2026 Q2 · 2026-07-31
指引：克莱尔·罗斯：诺埃尔将向大家介绍我们的业绩以及2026年展望。需求与订单：诺埃尔·华莱士：话虽如此，我们的各项业务表现依然出色，尤其是高露洁中国业务目前持续实现中个位数增长，本季度销量表现良好，特别是我们的个人护理中国业务，尽管该市场面临诸多扰动：新平台推出、线下门店客流下滑并转向电商，以及竞争环境异常激烈。利润率：诺埃尔·华莱士：正如大家指出的，本季度毛利率表现强劲，上涨100个基点，较上一季度也上涨了90个基点。我们从退款中获得了些许小幅收益，但增长的主要部分无疑来自我们的核心业务以及我们在全球推行的各项举措。分析师问答
分析师彼得·格罗姆提问：想请教毛利率相关问题。你方在业绩预告中提到本季度有退税收益，但即便剔除该部分，业绩依然强劲，能否详细说明该结果与预期相比如何？管理层诺埃尔·华莱士回应：我们的一线团队正在执行定价与收入增长管理，利用所有工具实现利润增长，同时正如本季度所见，我们也在增加广告支出。我们将继续专注于收入增长管理各环节，促销人工智能工具正在全球范围内推广，已从中受益，本季度增长投入强劲，未来我们将继续加大相关投入。This earnings research was prepared from company results, regulatory filings, financial statements, and earnings-call transcripts or official replays. It is for informational purposes only and does not constitute investment advice.这篇财报研究基于公司业绩公告、监管文件、财务报表，以及财报电话会议记录或官方回放整理。内容仅供参考，不构成投资建议。
