Colgate (CL) Q1 Earnings & Sales Top Estimates, Stock Up
Zacks Investment Research | Apr 25, 2019 10:14PM ET
Colgate-Palmolive Company (NYSE:CL) delivered better-than-expected top and bottom-line results for first-quarter 2019. However, earnings and sales dipped year over year. Unfavorable foreign currency mainly marred the company’s results. Nonetheless, favorable pricing aided organic sales growth. Moreover, the company reiterated its guidance for 2019.
Backed by strong results, shares of Colgate gained 2.4% in the pre-market trading session. While this Zacks Rank #3 (Hold) stock has gained 3.1% in the past year, it underperformed the industry ’s growth of 22.5%.
Adjusted earnings of 67 cents per share in first-quarter 2019 dropped 9% from the prior-year quarter. However, earnings topped the Zacks Consensus Estimate of 66 cents. Including one-time items, earnings were 65 cents per share compared with 72 cents in the year-ago period.
Colgate-Palmolive Company Price, Consensus and EPS Surprise
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