Colgate-Palmolive (CL) Tops Q3 EPS by 9c, Revenues Beat

October 30, 2020 6:57 AM

Colgate-Palmolive (NYSE: CL) reported Q3 EPS of $0.79, $0.09 better than the analyst estimate of $0.70. Revenue for the quarter came in at $4.15 billion versus the consensus estimate of $3.98 billion.

“Net sales grew 5.5% and organic sales grew 7.5% as we drove volume growth and higher pricing in every division.

“It is rewarding to see the growth strategies we are implementing bear fruit. While we continue to see elevated demand in personal care and home care related to the virus, premium innovation is also driving growth across all of our product categories. We also continue to see strength in eCommerce, led by our Hill’s business.

“The very strong gross margin expansion in the quarter allowed us to invest more behind our brands and provides us with the ability to increase that investment in the balance of the year in support of a very full innovation pipeline.

“Looking ahead, while uncertainty related to the impact of the pandemic still exists, including macroeconomic impacts and government actions to stem the virus, we believe we have better visibility for the balance of the year and therefore we are providing annual financial guidance for 2020."

Full Year 2020 Guidance

Based on current spot rates:

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

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