Colgate (CL) Dips Despite In-Line Q2 Earnings, Sales Lag
Zacks Investment Research | Jul 20, 2017 09:59PM ET
Colgate-Palmolive Co. (NYSE:CL) posted adjusted earnings of 72 cents a share, in line with the Zacks Consensus Estimate and up 3% from 70 cents earned in the prior-year quarter.
Including one-time items, earnings came in at 59 cents a share compared with 67 cents reported in the year-ago period.
Despite earnings beat, Colgate’s shares are down 2.3% during pre-market trading hours, as investors remained skeptical about the company’s top-line performance that fell short of expectations for the fifth straight quarter. In fact in the last three months, the stock has declined 2.1% compared with the broader Zacks Investment Research
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