Colgate-Palmolive (CL) Tops Q3 EPS by 3c; offers FY24 guidance

Colgate-Palmolive (NYSE: CL) reported Q3 EPS of $0.91, $0.03 better than the analyst estimate of $0.88. Revenue for the quarter came in at $5.03 billion versus the consensus estimate of $5.01 billion.

GUIDANCE

Full Year 2024 Guidance

Based on current spot rates:

The Company now expects net sales growth of 3% to 5% (versus 2% to 5% previously) including a mid-single-digit negative impact from foreign exchange.
The Company now expects organic sales growth of 7% to 8% (versus 6% to 8% previously).
On a GAAP basis, the Company still expects gross profit margin expansion, increased advertising investment and double-digit earnings per share growth.
On a non-GAAP (Base Business) basis, the Company still expects gross profit margin expansion and increased advertising investment and now expects earnings per share growth of 10% to 11% (versus 8% to 11% previously).

For earnings history and earnings-related data on Colgate-Palmolive (CL) click here.

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