Colgate-Palmolive (CL) Shines With Record Q3 Profits
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Colgate-Palmolive (NYSE: CL) reported third-quarter EPS results of $1.12, 2 cents better than the analyst consensus of $1.10. Revenue for the quarter was $3.99 billion, ahead of the market estimate of $3.92 billion.
Net income for the company came in at record-high for the company during the third quarter at $590 million. The third-quarter EPS of $1.12 was also a company best.
Gross-profit margin increased in the third quarter to 59.2 percent for the company, over the year-ago quarter at 56.1 percent. Colgate-Palmolive hiked prices on its products by 5 percent during the quarter.
"Given the continued gross margin strength and our top-line momentum, we are comfortable with external profit expectations for both the fourth quarter and the year," Ian Cook, Chairman, President and CEO of Colgate-Palmolive. "While our 2010 budget process is still in its initial stages, we anticipate another year of double-digit earnings per share growth in 2010."
Colgate-Palmolive is currently moving at $77.88, up 0.20 percent following the release of the third quarter results.
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colgate
carmine cambria on Nov 3, 2009 04:32 PMI think cl is a great co.well run and on top of things