Colgate-Palmolive reported full-year 2024 net sales of $20,101 million, a 3.3% increase from 2023, achieving the milestone of $20 billion in net sales. Full-year GAAP diluted EPS reached $3.51, up 27%, and Base Business diluted EPS grew 11% to $3.60. This marked the sixth consecutive year of organic sales growth at or above the company's 3% to 5% targeted range, with a 7.4% organic sales increase for the full year.
For the fourth quarter of 2024, net sales were $4,944 million, a slight decrease of 0.1% compared to the prior year, and organic sales grew 4.3%. GAAP diluted EPS for the quarter was $0.90, up 3%, while Base Business diluted EPS increased 5% to $0.91. The company's advertising spending increased by 15% in 2024, following a 19% increase in 2023, demonstrating continued investment in brand health and innovation.
Looking ahead to full-year 2025, Colgate-Palmolive forecast net sales to be roughly flat and organic sales growth to be between 3% and 5%. GAAP EPS growth is projected to be in the low-single-digits, with Base Business EPS growth in the mid-single-digits. This guidance reflects a cautious outlook, particularly given a mixed performance in the fourth quarter where North America net sales declined 1.0% and Latin America net sales decreased 7.2%.
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