Colgate-Palmolive Gains After Earnings Topper and Hiked Profit Guidance

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Colgate-Palmolive Gains After Earnings Topper and Hiked Profit Guidance

Seeking Alpha07-26

Colgate-Palmolive Company traded 1.48% higher in early action on Friday after topping consensus estimates with its Q2 earnings report and hiking its profit guidance.The household products giant ...

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Organic sales were up 9.0% during the quarter, led by strong gains in the Latin America (+18.8%) and Africa/Eurasia (+16.4%) segments. Organic volume was up 4.7% during the quarter and pricing was 4.2% higher.Operating profit increased 12% to $1.09 billion and was 21.6% of sales vs. 20.2% a year ago. Double-digit operating profit growth was seen in the Latin America, Africa/Eurasia, Europe, and Hill's segments. Operating profit dropped 2% in North America.CEO update: \"This is our fourth consecutive quarter delivering gross margin expansion and double-digit growth in operating profit, net income and earnings per share. This combination of sales growth and operating leverage allowed us to continue to invest for the long-term health of our business, with an 18% increase in advertising in the quarter. 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