Colgate-Palmolive (CL) Tops Q1 EPS by 3c

Colgate-Palmolive (NYSE: CL) reported Q1 EPS of $0.73, $0.03 better than the analyst estimate of $0.70. Revenue for the quarter came in at $4.77 billion versus the consensus estimate of $4.57 billion.

GUIDANCE:

Full Year 2023 Guidance

Based on current spot rates:

• The Company now expects net sales growth to be 3% to 6% including the benefit from our acquisitions of pet food businesses and a low-single-digit negative impact from foreign exchange.
• The Company now expects organic sales growth to be 4% to 6%.
• On a GAAP basis, the Company still expects gross profit margin expansion, increased advertising investment and double-digit earnings-per-share growth.
• On a non-GAAP (Base Business) basis, the Company still expects gross profit margin expansion and increased advertising investment and now expects mid-single-digit earnings-per-share growth.

For earnings history and earnings-related data on Colgate-Palmolive (CL) click here.

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