Colgate-Palmolive: sales disappoint in Q4
(CercleFinance.com) - On Friday, Colgate-Palmolive reported Q4 earnings slightly ahead of Wall Street estimates, although sales fell short of expectations.
The world's leading toothpaste manufacturer reported net income, group share, of $739m, or 90 cents per share, compared with $718m (87 cents p.s.) a year earlier.
Excluding exceptional items, EPS came to 91 cents, against the consensus of 90 cents.
Sales fell by 0.1% to $4.94bn, compared with a consensus of over $5bn.
Organic growth, adjusted for acquisitions, disposals and currency effects, reached 4.3%, driven by volume growth of 2.5% and price increases of 1.8%.
Currency effects, however, penalized sales by 4.4%, Colgate said.
The New York-based group's quarterly gross margin improved by 0.7 point to 60.3%.
Following this publication, the share was down 2.7% in pmt on Friday.
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