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Colgate (CL) Q2 Earnings Beat, Sales Misses on Currency Woes
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Colgate-Palmolive Co. (CL - Free Report) , a global dealer in consumer goods, came out with second-quarter 2016 adjusted earnings of 70 cents per share surpassed the Zacks Consensus Estimate of 69 cents and remained flat year over year. Including one-time items, the company’s earnings of 67 cents per share, jumped 6.3% year over year.
For 2016, the company now projects adjusted earnings per share to remain flat year over year, on a dollar basis. However, GAAP earnings per share are expected to increase in the high double-digit range.
Earnings Estimate Revision: The Zacks Consensus Estimate for 2016 has witnessed a downtrend over the past 30 days. However, if we look at Colgate’s performance in the trailing four quarters (including the quarter under review), the company has outperformed the Zacks Consensus Estimate by an average of 0.01%. 0.7%
Revenues: Colgate’s global sales declined 5.5% to $3,845 million during the quarter, as benefit from 3% rise in prices was more than offset by a 3% fall in volumes and 5.5% negative impact of from currency fluctuations. Quarterly revenues were also short of the Zacks Consensus Estimate of $3,871 million. Organic sales rose 4.5% during the quarter.
Despite tough macroeconomic environment and foreign currency headwinds, management anticipates robust organic sales growth in 2016 buoyed by new product categories. However, net sales for 2016 are expected to decline in the low to mid-single-digit range, due to the persistence of currency headwinds.
Zacks Rank: Currently, Colgate carries a Zacks Rank #3 (Hold) which is subject to change based on the just released earnings results.
Check back later for our full write up on Colgate’s earnings report!
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Colgate (CL) Q2 Earnings Beat, Sales Misses on Currency Woes
Colgate-Palmolive Co. (CL - Free Report) , a global dealer in consumer goods, came out with second-quarter 2016 adjusted earnings of 70 cents per share surpassed the Zacks Consensus Estimate of 69 cents and remained flat year over year. Including one-time items, the company’s earnings of 67 cents per share, jumped 6.3% year over year.
For 2016, the company now projects adjusted earnings per share to remain flat year over year, on a dollar basis. However, GAAP earnings per share are expected to increase in the high double-digit range.
Earnings Estimate Revision: The Zacks Consensus Estimate for 2016 has witnessed a downtrend over the past 30 days. However, if we look at Colgate’s performance in the trailing four quarters (including the quarter under review), the company has outperformed the Zacks Consensus Estimate by an average of 0.01%. 0.7%
COLGATE PALMOLI Price and EPS Surprise
COLGATE PALMOLI Price and EPS Surprise | COLGATE PALMOLI Quote
Revenues: Colgate’s global sales declined 5.5% to $3,845 million during the quarter, as benefit from 3% rise in prices was more than offset by a 3% fall in volumes and 5.5% negative impact of from currency fluctuations. Quarterly revenues were also short of the Zacks Consensus Estimate of $3,871 million. Organic sales rose 4.5% during the quarter.
Despite tough macroeconomic environment and foreign currency headwinds, management anticipates robust organic sales growth in 2016 buoyed by new product categories. However, net sales for 2016 are expected to decline in the low to mid-single-digit range, due to the persistence of currency headwinds.
Zacks Rank: Currently, Colgate carries a Zacks Rank #3 (Hold) which is subject to change based on the just released earnings results.
Check back later for our full write up on Colgate’s earnings report!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>