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Colgate (CL) Beats on Q1 Earnings, Stock Down on Sales Miss

Zacks Equity Research
Updated

Colgate-Palmolive Co. CL, a global dealer in consumer goods, came out with first-quarter 2017 adjusted earnings of 67 cents per share surpassed the Zacks Consensus Estimate by a penny and also increased 6.3% year-over-year. Including one-time items, the company’s earnings per share were 64 cents compared with 59 cents reported in the year ago quarter.

For 2017, the company projects adjusted earnings per share to grow at a low-single-digit range on a year over year basis.

Earnings Estimate Revision: The Zacks Consensus Estimate for 2017 has witnessed upward revisions over the past 7 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 0.4%.

Colgate-Palmolive Company Price, Consensus and EPS Surprise

Colgate-Palmolive Company Price, Consensus and EPS Surprise | Colgate-Palmolive Company Quote

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Revenues: Colgate’s sales came in at $3,762 million, flat year-over-year. Pricing increased 2.5%, whereas volumes declined 2% and foreign currency negatively impacted the earnings by 0.5%. Quarterly revenues were also short of the Zacks Consensus Estimate of $3,799 million. Organic sales climbed 0.5% during the quarter.

Due tough macroeconomic environment, management anticipates low-single-digit net sales growth in 2017, whereas organic sales growth will be moderately below the range of 4% to 7%.

Zacks Rank: Currently, Colgate carries a Zacks Rank #2 (Buy) which is subject to change based on the just released earnings results.

You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

Stock Movement: Colgate’s shares are down nearly 3.3% 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-Palmolive Company (CL): Free Stock Analysis Report
 
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Zacks Investment Research