Consumer Products Giant Colgate-Palmolive Delivers Beat & Raise Quarter: Here's Details
Portfolio Pulse from Shivani Kumaresan
Colgate-Palmolive Company (NYSE:CL) reported a 10.5% YoY sales growth in Q3 FY23, beating analyst estimates. Organic sales increased by 9% and net sales in Oral, Personal, and Home Care rose by 7.6%. The company's non-GAAP EPS of $0.86 also beat analyst consensus. Gross profit was $2.88 billion, with a margin expansion of 130 basis points. However, operating margin contracted by 40 basis points. The company raised its FY23 net sales growth outlook to 6%-8% and expects organic sales growth of 7%-8%.
October 27, 2023 | 1:37 pm
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Colgate-Palmolive's Q3 FY23 results beat estimates, with sales growth and EPS exceeding expectations. The company also raised its FY23 outlook, which could positively impact investor sentiment.
Colgate-Palmolive's better-than-expected Q3 results and raised FY23 outlook indicate strong performance and positive future expectations. This is likely to boost investor confidence and could lead to a short-term increase in the company's stock price.
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IMPORTANCE 90
RELEVANCE 100