Colgate-Palmolive Maintains FY18 Adj. EPS Growth Outlook – Quick Facts

Colgate-Palmolive Co. (CL) on Friday continues to project fiscal 2018 earnings per share to grow in double digit percentage and adjusted earnings per share growth in the mid-single-digit percentage.

Adjusted earnings outlook exclude charges resulting from the Global Growth and Efficiency Program, the one-time charge related to U.S. tax reform in 2017 and the benefit from a foreign tax matter in 2018, and is based on current spot rates.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $3.09 per share for the year. Analysts’ estimates typically exclude special items.

For the second quarter, the company reported net income of $637 million or $0.73 per share, higher than $524 million or $0.59 per share in the prior-quarter. Excluding items, adjusted earnings per share were $0.77, compared to $0.72 per share in the year-ago quarter. Net sales for the quarter grew 1.5 percent to $3.89 billion from the same quarter last year. Organic sales edged up 0.5 percent.

Analysts expected quarterly earnings of $0.77 per share on sales of $3.91 billion.

by RTTNews Staff Writer

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