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Colgate (CL) Q2 Earnings in Line, Stock Down on Sales Miss
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Colgate-Palmolive Co. (CL - Free Report) , a global dealer in consumer goods, came out with second-quarter 2017 adjusted earnings of 72 cents per share, which came in line with Zacks Consensus Estimate and rose nearly 3% year over year.
For 2017, the company projects adjusted earnings per share to grow at a low-single-digit range on a year over year basis. However, GAAP earnings per share are now expected to drop at a mid single-digit rate.
Earnings Estimate Revision: The Zacks Consensus Estimate for 2017 has been witnessing a downtrend over the past 30 days. However, if we look at Colgate’s performance in the trailing four quarters (excluding the quarter under review), the company has outperformed the Zacks Consensus Estimate by an average of 0.7%.
Revenues: Colgate’s sales dipped 0.5% to $3,826 million during the quarter, as benefit from 1% rise in prices was more than offset by a 1% fall in volumes and 0.5% negative impact of from currency fluctuations. Quarterly revenues were also short of the Zacks Consensus Estimate of $3,885 million, marking the company’s fifth consecutive sales miss. Organic sales remained flat in the quarter.
Owing to a tough macroeconomic environment, management anticipates both, net sales and organic sales for 2017 to rise in low-single-digits.
Zacks Rank: Currently, Colgate carries a Zacks Rank #3 (Hold) which is subject to change based on the just released earnings results.
Stock Movement: Colgate’s shares dipped nearly 3.4% during pre-market trading hours following the earnings release.
Check back later for our full write up on Colgate’s earnings report!
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Colgate (CL) Q2 Earnings in Line, Stock Down on Sales Miss
Colgate-Palmolive Co. (CL - Free Report) , a global dealer in consumer goods, came out with second-quarter 2017 adjusted earnings of 72 cents per share, which came in line with Zacks Consensus Estimate and rose nearly 3% year over year.
For 2017, the company projects adjusted earnings per share to grow at a low-single-digit range on a year over year basis. However, GAAP earnings per share are now expected to drop at a mid single-digit rate.
Earnings Estimate Revision: The Zacks Consensus Estimate for 2017 has been witnessing a downtrend over the past 30 days. However, if we look at Colgate’s performance in the trailing four quarters (excluding the quarter under review), the company has outperformed the Zacks Consensus Estimate by an average of 0.7%.
Colgate-Palmolive Company Price and EPS Surprise
Colgate-Palmolive Company Price and EPS Surprise | Colgate-Palmolive Company Quote
Revenues: Colgate’s sales dipped 0.5% to $3,826 million during the quarter, as benefit from 1% rise in prices was more than offset by a 1% fall in volumes and 0.5% negative impact of from currency fluctuations. Quarterly revenues were also short of the Zacks Consensus Estimate of $3,885 million, marking the company’s fifth consecutive sales miss. Organic sales remained flat in the quarter.
Owing to a tough macroeconomic environment, management anticipates both, net sales and organic sales for 2017 to rise in low-single-digits.
Zacks Rank: Currently, Colgate carries a Zacks Rank #3 (Hold) which is subject to change based on the just released earnings results.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stock Movement: Colgate’s shares dipped nearly 3.4% during pre-market trading hours following the earnings release.
Check back later for our full write up on Colgate’s earnings report!
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
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