Hill’s Pet Nutrition, a subsidiary of Colgate Palmolive, experienced a notable surge in its financial performance during the third quarter of 2023. Net sales increased by 21.5%, reaching 1.06 billion dollars, while organic sales saw a 15% growth. The operating profit for the quarter amounted to 201 million dollars.
Notably, the volume rose by 9%, and pricing witnessed a 12% increase over the quarter. The nine-month sales for the division totaled 3.18 billion dollars, accompanied by an operating profit of 575 million dollars. However, this figure was slightly down from the 617 million dollars recorded in the first nine months of fiscal 2022, primarily attributed to elevated costs of raw materials and packaging.