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CL · Q2 2026
Archived report (Q2 2026). Latest deep dive →
The quarter in brief
A rare quarter where the top line and the bottom line disagree — sales +4.9% and gross margin at a strong 61.5%, yet profit fell 6.7% because the company is paying for its own restructuring: $129M of Strategic Growth and Productivity charges plus SG&A growing almost twice as fast as sales.
Net Income (incl. NCI)
$719M
down 7.0% y/y
Net Sales
$5,361M
up 4.9% y/y
Operating Profit
$1,016M
down 5.9% y/y
Gross Profit
$3,296M
up 7.4% y/y
All figures in $M.
| Line item | Amount and change |
|---|---|
| Net Sales | $5,361 · +4.9% |
| Cost of Sales | $2,065 · +1.2% |
| Gross Profit | $3,296 · +7.4% · 61.5% margin (+140bp) |
| SG&A | $2,130 · +8.5% |
| Other Expense, net (restructuring) | $150 · vs $26 |
| Operating Profit | $1,016 · -5.9% · 19.0% margin |
| Interest Income | $17 · -19% |
| Interest Expense | $62 · -12.7% |
| Postretirement Costs | $21 · -8.7% |
| Pre-Tax Income | $950 · -5.7% |
| Income Tax | $231 · ETR 24.3% |
| Net Income (incl. NCI) | $719 · -7.0% |
| Noncontrolling Interests | $26 · -13.3% |
| Net Income to Shareholders | $693 · -6.7% · $0.86/sh · 12.9% of sales |
Verdict: a rare quarter where the top line and the bottom line disagree — sales +4.9% and gross margin at a strong 61.5%, yet profit fell 6.7% because the company is paying for its own restructuring: $129M of Strategic Growth and Productivity charges plus SG&A growing almost twice as fast as sales.
EPS $0.86 diluted (−5.5%). Two product segments — Oral/Personal/Home Care and Pet Nutrition — run across four geographies. About two-thirds of sales come from outside the U.S.; roughly 45% from emerging markets.
Source and notation
* marks non-cash / ≈ estimated. Source: Colgate-Palmolive 10-Q (SEC EDGAR).
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<figure> <a href="https://whoreportstoday.com/t/cl/q2-2026"><img src="https://whoreportstoday.com/t/cl/q2-2026/sankey.png" alt="CL Q2 2026: where the revenue went" loading="lazy" style="max-width:100%;height:auto"></a> <figcaption>Source: <a href="https://whoreportstoday.com/t/cl/q2-2026">Who Reports Today</a>, licensed under <a href="https://creativecommons.org/licenses/by/4.0/">CC BY 4.0</a></figcaption> </figure>
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- Gross margin expanded to 61.5% from 60.1% — pricing and mix outran input costs; the pressure came below the gross line, not above it.
- The whole profit decline is self-inflicted spending: 'Other expense, net' jumped to $150M from $26M, of which $129M is the Strategic Growth and Productivity Program ($300M for the half-year).
- SG&A grew 8.5% against 4.9% sales growth — advertising and go-to-market investment ahead of the payoff.
- Interest expense fell to $62M from $71M while interest income slipped to $17M — the net financial drag barely moved.
- Segment reporting was realigned this year: a new EMEA segment absorbed Europe, Africa/Eurasia and skin health, while Russia and Belarus moved into Asia Pacific.
- Talc litigation keeps growing: 525 cases pending at quarter-end versus 453 at the end of 2025; settlements so far are immaterial per the filing.
- The long-running ERISA pension case is closed — settled for $332M, of which the company paid $99M in plaintiffs' legal fees and the plan funds the rest.
- Noncontrolling interests took $26M — Colgate's overseas subsidiaries have minority partners in several markets.
What distorts the picture in this report and what to watch beyond the headlines.
CL — Colgate-Palmolive is a global consumer goods company that produces oral care, personal care, and home care products.
Headquartered in the United States, it markets its brands in over 200 countries through a wide distribution network.
Heads-up
- net income fell 7% y/y in Q2 2026
Net income for Q2 2026: $719M, −7% y/y. Based on the Q2 2026 report.
Company filings on SEC EDGAR ↗More reports: CLX · Q4 FY2026 · COST · Q4 FY26 · DG · Q2 FY2026 · DLTR · Q2 FY2026 · EL · Q4 FY2026 · GIS · Q1 FY2027 · HRL · Q3 FY2026 · HSY · Q2 2026 · KDP · Q2 2026 · KHC · Q2 2026 · all reports