Colgate-Palmolive Updated FY23 Outlook: Co. Expects Net Sales Growth of 5% - 8%, Organic Sales Growth 5% - 7%
Portfolio Pulse from Benzinga Newsdesk
Colgate-Palmolive has updated its FY23 outlook, expecting net sales growth of 5% to 8%, including the benefit from acquisitions of pet food businesses and a low-single-digit negative impact from foreign exchange. The company also expects organic sales growth of 5% to 7%. On a GAAP basis, it expects gross profit margin expansion, increased advertising investment, and double-digit earnings-per-share growth. On a non-GAAP basis, it expects earnings-per-share growth to be at the high end of mid-single-digits.
July 28, 2023 | 10:59 am
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Colgate-Palmolive's updated FY23 outlook indicates a positive growth trajectory, which could potentially boost investor confidence and positively impact the company's stock price in the short term.
The company's updated outlook shows expected growth in net sales and organic sales, as well as gross profit margin expansion and increased earnings-per-share. This indicates a positive financial performance, which could attract more investors and drive up the stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100