Colgate (CL) Q3 Earnings In Line, Sales Beat, Stock Down

Colgate-Palmolive Company (NYSE:CL) , a global dealer in consumer goods, came out with third-quarter 2017 adjusted earnings of 73 cents per share, which came in line with Zacks Consensus Estimate and remained flat year over year.

For 2017, the company reiterated its adjusted earnings per share to grow at a low-single-digit range on a year over year basis. However, GAAP earnings per share are still expected to drop at a mid single-digit rate.

Earnings Estimate Revision: The Zacks Consensus Estimate for 2017 has moved up by a penny in the past 30 days. Further, if we look at Colgate’s performance in the trailing four quarters (excluding the quarter under review), the company has outperformed the Zacks Consensus Estimate by an average of 0.4%.

Revenues: Colgate’s sales increased 3% to $3,974 million during the quarter, owing to 1.5% growth from both, volumes and favorable currency impact. However, pricing remained flat with the prior-year period. Organic sales rose 1.5% in the quarter. Notably, sales topped the Zacks Consensus Estimate of $3,930 million, thus breaking its long dismal surprise trend.

Depending upon the current spot rates, management continues to anticipate both, net sales and organic sales for 2017 to rise in low-single-digits.

Zacks Rank: Currently, Colgate carries a Zacks Rank #3 (Hold), which is subject to change based on the just released earnings results.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Stock Movement: Colgate’s shares dipped nearly 1.9% during pre-market trading hours following the earnings release.

Check back later for our full write up on Colgate’s earnings report!

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Colgate-Palmolive Company (CL): Free Stock Analysis Report

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