Plus   Neg

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Amazon's much-awaited Prime Day shopping event will take place in mid-October, according to multiple reports. The annual sale event will reportedly kick off in the U.S. on Tuesday, October 13. Amazon Prime Day, the company's biggest, global shopping event of the year, is usually held in the U.S. in mid-July. However, the e-commerce giant confirmed in July that it is delaying this year's event. Walmart Foundation, Cargill and McDonald's said they will invest more than $6 million in a million-acre grazing initiative to help restore grasslands and address the issue of climate change. The initiative, led by the World Bank, aims to make lasting improvements to the grasslands of the Northern Great Plains. The new program is known as the Ranch Systems and Viability Planning or RSVP network. Shell International Petroleum Co. Ltd. and Microsoft Corp. formed a strategic alliance to develop new solutions to achieve net-zero emissions. The alliance will support Shell's ambition to be a net-zero emissions energy business by 2050. Meanwhile, Shell's supply of renewable energy to Microsoft is expected to help it deliver on its renewable energy supply goals.
Follow RTT