Colgate: consensus exceeded, 2024 guidance raised

(CercleFinance.com) - On Friday Colgate-Palmolive announced better-than-expected earnings and sales for Q1, and in the process raised its growth targets for 2024.


The US toothpaste giant reported sales that rose 6.2% to almost $5.1bn, including organic growth of 9.8%, above the consensus of $4.6bn.

Growth was driven primarily by increased sales in Latin America (+25.9%) and Africa/Eurasia (+16.2%).

EPS was $0.83, again above analysts' estimates of $0.46.

The New York-based group, which owns the Colgate, Palmolive, elmex, Ajax, Soupline and Hill's brands, is now targeting FY organic growth of 5% to 7%, compared with a previous forecast range of 3% to 5%.

The stock was up 1% in pmt on Friday in the wake of these figures.


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