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Colgate-Palmolive Withdraws FY20 Outlook Amid COVID-19 - Quick Facts

While reporting financial results for the first quarter on Friday, Colgate-Palmolive Co. (CL) said it is withdrawing and temporarily suspends its full-year 2020 financial guidance, due to the uncertainty surrounding the business impacts from COVID-19 and related macroeconomic volatility.

For the first quarter, the company reported net income of $715 million or $0.83 per share, higher than $560 million or $0.65 per share in the prior-year quarter. Excluding items, adjusted earnings per share were $0.75, compared to $0.67 per share in the year-ago quarter. Net sales for the quarter grew 5.5 percent to $4.10 billion from the same quarter last year. Organic sales grew 7.5 percent.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.74 per share on sales of $4.09 billion for the quarter. Analysts' estimates typically exclude special items.

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