Colgate-Palmolive Stock Slips After Q2 Earnings: What's Going On?
Portfolio Pulse from Nabaparna Bhattacharya
Colgate-Palmolive Company (NYSE:CL) reported Q2 FY23 sales growth of 7.5% YoY to $4.82 billion, beating the consensus of $4.67 billion. Non-GAAP EPS of $0.77 beat the analyst consensus of $0.75. The company sees strong investment levels to continue in the back half of the year to deliver balanced organic sales growth. However, CL shares are trading lower by 1.58% at $75.89 in premarket.
July 28, 2023 | 1:13 pm
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NEGATIVE IMPACT
Colgate-Palmolive reported strong Q2 FY23 results, beating sales and EPS consensus. Despite this, the stock is trading lower.
Despite reporting strong Q2 FY23 results and beating consensus, Colgate-Palmolive's stock is trading lower. This could be due to market factors or investor sentiment not reflected in the earnings report.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100