Colgate-Palmolive: Q1 Earnings Snapshot
The New York-based company said it had net income of 80 cents per share.
The results matched Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was also for earnings of 80 cents per share.
The consumer products maker posted revenue of $4.34 billion in the period, which topped Street forecasts. Five analysts surveyed by Zacks expected $4.27 billion.
Colgate-Palmolive shares have dropped roughly 7% since the beginning of the year, while the S&P’s 500 index has increased 12%. The stock has increased 14% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CL at https://www.zacks.com/ap/CL
Colgate-Palmolive Q1 Results Beat View
NEW YORK CITY (dpa-AFX) - Colgate-Palmolive Co. (CL) reported a profit for the first-quarter that declined 4.8 percent from last year. But, net sales for the first-quarter increased 6.0 percent, organic sales increased 5.0 percent. Both adjusted earnings and sales beat analysts estimates. The company reiterated its financial guidance for full year 2021.
In Friday pre-market trade, CL was trading at $81.53 up $1.71 or 2.14 percent.
Looking ahead, the company expects volatility in consumer demand and currencies as well as further increases in raw material prices and logistics costs, but remain confident that its investment choices and growth strategies will help the company manage through challenges and emerge even stronger.
Provided by Dow Jones By Matt Grossman Colgate-Palmolive Co. on Friday logged a first-quarter profit and higher sales year over year as the company built on revenue gains it logged in last year s first quarter during the early stages of the Covid-19 pandemic. The New York City-based consumer-products company posted earnings of 80 cents a share, down from 83 cents a share a year earlier. Net income attributable to the company was $681 million, down from $715 million one year earlier. After stripping out one-time items, Colgate s adjusted earnings were also 80 cents a share. Analysts surveyed by FactSet had forecast an adjusted profit of 79 cents a share.
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