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Colgate (CL) Q1 Earnings Top, Sales Lag Estimates, Stock Down
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Colgate-Palmolive Company (CL - Free Report) , a global dealer in consumer goods, came out with first-quarter 2018 results. It recorded adjusted earnings of 74 cents per share, which outpaced the Zacks Consensus Estimate of 73 cents and grew 10% year over year.
For 2018, management envisions adjusted earnings per share to grow at low-double-digit range on a year over year basis. However, GAAP earnings per share are expected to rise at double-digit rate.
Earnings Estimate Revision: The Zacks Consensus Estimate for 2018 remained stable in the last 30 days. Further, 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 0.4%.
Colgate-Palmolive Company Price, Consensus and EPS Surprise
Revenues: Colgate’s sales increased 6.5% to $4,002 million during the quarter, owing to 2% growth from volumes and 4.5% gain from favorable currency impact. Pricing remained flat with the prior-year period. Organic sales rose 1.5% in the quarter. However, sales lagged the Zacks Consensus Estimate of $4,018 million.
Depending upon the current spot rates, management anticipates net sales to grow in mid-single digits while it projects organic sales to rise in low-single-digits for 2018.
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% 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) Q1 Earnings Top, Sales Lag Estimates, Stock Down
Colgate-Palmolive Company (CL - Free Report) , a global dealer in consumer goods, came out with first-quarter 2018 results. It recorded adjusted earnings of 74 cents per share, which outpaced the Zacks Consensus Estimate of 73 cents and grew 10% year over year.
For 2018, management envisions adjusted earnings per share to grow at low-double-digit range on a year over year basis. However, GAAP earnings per share are expected to rise at double-digit rate.
Earnings Estimate Revision: The Zacks Consensus Estimate for 2018 remained stable in the last 30 days. Further, 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 0.4%.
Colgate-Palmolive Company Price, Consensus and EPS Surprise
Colgate-Palmolive Company Price, Consensus and EPS Surprise | Colgate-Palmolive Company Quote
Revenues: Colgate’s sales increased 6.5% to $4,002 million during the quarter, owing to 2% growth from volumes and 4.5% gain from favorable currency impact. Pricing remained flat with the prior-year period. Organic sales rose 1.5% in the quarter. However, sales lagged the Zacks Consensus Estimate of $4,018 million.
Depending upon the current spot rates, management anticipates net sales to grow in mid-single digits while it projects organic sales to rise in low-single-digits for 2018.
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% during pre-market trading hours following the earnings release.
Check back later for our full write up on Colgate’s earnings report!
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>