Colgate-Palmolive: quarterly profit rises, but shares dip
(CercleFinance.com) - Colgate-Palmolive on Friday posted a higher quarterly profit as the toothpaste maker benefited from higher volumes and pricing.
The maker of Colgate toothpaste and Palmolive soaps earned 578 million dollars, or 67 cents per share, in the third quarter, up from 523 million dollars, or 60 cents per share, a year earlier.
Excluding aftertax charges resulting from the company's efficiency program and acquisition costs, Colgate earned 71 cents per share in the last quarter.
Profit slightly beat analysts' expectations of 71 cents per share.
Sales rose by 2% to 3.9 billion dollars, with organic sales - which exclude the impact of FX factors, acquisitions and divestments - up 4.5%.
Looking ahead, Colgate still expects 2019 net sales to be either flat, or up in low-single-digits, with organic sales now expected to be up by 3%-4%, roughly in line with year-to-date growth.
Investors weren't particularly thrilled by these numbers, with the share down nearly 3% in early trading on Wall Street.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The maker of Colgate toothpaste and Palmolive soaps earned 578 million dollars, or 67 cents per share, in the third quarter, up from 523 million dollars, or 60 cents per share, a year earlier.
Excluding aftertax charges resulting from the company's efficiency program and acquisition costs, Colgate earned 71 cents per share in the last quarter.
Profit slightly beat analysts' expectations of 71 cents per share.
Sales rose by 2% to 3.9 billion dollars, with organic sales - which exclude the impact of FX factors, acquisitions and divestments - up 4.5%.
Looking ahead, Colgate still expects 2019 net sales to be either flat, or up in low-single-digits, with organic sales now expected to be up by 3%-4%, roughly in line with year-to-date growth.
Investors weren't particularly thrilled by these numbers, with the share down nearly 3% in early trading on Wall Street.
Copyright (c) 2019 CercleFinance.com. All rights reserved.