Colgate-Palmolive Company (NYSE:CL) surpassed Q4 FY23 sales expectations with a 7% increase to $4.95 billion and achieved a non-GAAP EPS of $0.87, beating estimates of $0.80. Gross profit margins rose by 400 basis points to 59.6%. The company plans to increase brand investment in 2024 after a 19% rise in advertising spending in 2023. Colgate holds a 41.1% global market share in toothpaste and 31.5% in manual toothbrushes. The FY24 outlook anticipates 1%-4% net sales growth and 3%-5% organic sales growth, with a forecast for gross profit margin expansion and mid to high-single-digit EPS growth. CL shares rose 2.05% to $82.89.