Colgate-Palmolive Earnings: Here’s Why the Stock is Up Now
Colgate-Palmolive Co. (NYSE:CL) delivered a profit and met Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 0.91%.
Colgate-Palmolive Co. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 4.48% to $0.70 in the quarter versus EPS of $0.67 in the year-earlier quarter.
Revenue: Rose 1.85% to $4.35 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Colgate-Palmolive Co. reported adjusted EPS income of $0.70 per share. By that measure, the company met the mean analyst estimate of $0.70. It missed the average revenue estimate of $4.39 billion.
Quoting Management: Ian Cook, Chairman, President and Chief Executive Officer, commented, “We are delighted that our strong growth momentum continued on both the top and bottom lines. For the fifth consecutive quarter, gross profit margin, operating profit margin and net income as a percent of sales all increased versus the year ago period.”
Key Stats (on next page)…