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Colgate-Palmolive Q2 Profit Tops Estimates; Organic Sales Growth At 5.5%

Colgate-Palmolive Company (CL) reported that its second quarter base business earnings per share grew 3% year-on-year to $0.74. On average, 17 analysts polled by Thomson Reuters expected the company to report profit per share of $0.69, for the quarter. Analysts' estimates typically exclude special items.

Second quarter net sales increased 1.0% to $3.90 billion. Organic sales increased 5.5%, for the quarter. Analysts expected revenue of $3.78 billion for the quarter.

"While net sales growth was significantly impacted by foreign exchange, the 5.5% organic sales growth reflected a good balance of positive volume and higher pricing on a worldwide basis," said Noel Wallace, CEO.

The company said it is not providing 2020 financial guidance due to the continued uncertainty surrounding the business impacts from COVID-19.

Shares of Colgate-Palmolive were up 2% in pre-market trade on Friday.

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