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Colgate-Palmolive Projects Mid-single-digit Decline In FY19 Adj. EPS

Colgate-Palmolive Company (CL) announced, for 2019, excluding items, based on current spot rates, the company now expects a slight decline in gross margin and continue to plan for increased advertising investment and a mid-single-digit decline in earnings per share. The company continues to expect 2019 net sales to be flat to up low-single-digits, with organic sales now expected to be up between 3 percent and 4 percent.

Excluding items, net income per share in third quarter 2019 were $0.71, a decrease of 1 decrease from third quarter 2018. On average, 18 analysts polled by Thomson Reuters expected the company to report profit per share of $0.70 for the quarter. Analysts' estimates typically exclude special items.

Worldwide net sales were $3.93 billion in third quarter 2019, an increase of 2.0 percent from third quarter 2018. Global unit volume increased 3.0 percent, pricing increased 1.5 percent. Organic sales increased 4.5 percent, for the quarter. Analysts expected revenue of $3.94 bllion, for the quarter.

Shares of Colgate-Palmolive Company were down 1% in pre-market trade on Friday.

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