Colgate-Palmolive Stock Gains 3% After Earnings Beat and Raised Guidance

Dow Jones04-26

Colgate-Palmolive Co.’s stock rose 2.9% early Friday, after the consumer goods giant beat first-quarter earnings estimates and raised its guidance.

The company had net income of $683 million, or 83 cents a share, for the first quarter, up from $372 million, or 45 cents a share, in the year-earlier period.

Adjusted EPS came to 86 cents, ahead of the 81-cent FactSet consensus. Sales rose to $5.065 billion from $4.770 billion a year ago and were also ahead of the $4.960 billion FactSet consensus.

“The strong gross and operating margin expansion in the quarter funded a 16% increase in advertising and we expect strong levels of brand investment over the balance of 2024,” CEO Noel Wallace said in prepared remarks.

The company raised its full-year guidance and now expects sales to grow 2% to 5%, compared with prior guidance of 1% to 4%.

The stock has gained 12% in the year to date, while the S&P 500 has gained 5.8%.

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The company had net income of $683 million, or 83 ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CL","symbol_name":"高露洁","start_time":0,"source_url":"","article_id":"1155213127","we_media_id":"1012688067","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1155213127","pubTimestamp":1714129684,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":1,"id":"1012688067","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Colgate-Palmolive Co.’s stock rose 2.9% early Friday, after the consumer goods giant beat first-quarter earnings estimates and raised its guidance. 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