Colgate-Palmolive Trades Higher On Mixed Q3 Earnings

Colgate-Palmolive CL reported third-quarter earnings of 71 cents per share on Friday, which beat the analyst consensus estimate of 70 cents by 1.43%. This is a 1.39% decrease over earnings of 72 cents per share from the same period last year.

The company reported quarterly sales of $3.928 billion, which missed the analyst consensus estimate of $3.94 billion by 0.30%. This is a 2.16% increase over sales of $3.845 billion the same period last year.

"We are pleased that our growth continued to accelerate this quarter, having achieved sequential improvement in organic sales growth for the fourth consecutive quarter. The strong 4.5% growth was again driven by both positive volume and higher pricing,” said CEO Noel Wallace. "As we look ahead, based on current spot rates, we continue to expect 2019 net sales to be flat to up low-single-digits, with organic sales now expected to be up between 3% and 4%, roughly in line with year-to-date growth.”

Colgate-Palmolive shares were trading up 1.2% at $67.75 in Friday’s pre-market session. The stock has a 52-week high of $76.41 and a 52-week low of $57.50.