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Colgate-Palmolive Projects Mid-single-digit Decline In 2019 Adj. EPS

Colgate-Palmolive Company (CL) said, excluding charges, the company continues to expect 2019 to be a year of gross margin expansion, increased advertising investment and a mid-single-digit decline in earnings per share. On a GAAP basis, the company projects gross margin expansion and a low-single-digit decline in earnings per share in 2019.

For 2019, Colgate-Palmolive continues to expect net sales to be flat to up low-single-digits, with organic sales up between 2% and 4%, though the company now expects to be toward the higher end of that range.

For the second-quarter, excluding charges, earnings per share were $0.72, a decrease of 6% from a year ago. On average, 18 analysts polled by Thomson Reuters expected the company to report profit per share of $0.72, for the quarter. Analysts' estimates typically exclude special items.

Second-quarter worldwide net sales were $3.87 billion, a decrease of 0.5% versus second quarter 2018. Global unit volume increased 1.0%, pricing increased 3.0% and foreign exchange was negative 4.5%. Organic sales increased 4.0%. Analysts expected revenue of $3.88 billion for the quarter.

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