Colgate-Palmolive Analysts Boost Their Forecasts After Better-Than-Expected Earnings
Portfolio Pulse from Avi Kapoor
Colgate-Palmolive Company (NYSE:CL) reported better-than-expected Q1 FY24 earnings, with a 6.2% sales growth to $5.065 billion and non-GAAP EPS of 86 cents, surpassing analyst estimates. The company saw a 6.8% increase in Total Oral, Personal, and Home Care net sales and a significant operating margin expansion. Following the earnings announcement, Colgate raised its FY24 net sales and organic sales growth guidance. Shares rose 1.9% to close at $91.01. Analysts from RBC Capital, B of A Securities, and Stifel adjusted their price targets upwards in response.
April 29, 2024 | 12:54 pm
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Colgate-Palmolive reported strong Q1 FY24 earnings, beating estimates with sales growth and EPS increase, leading to raised FY24 guidance and a positive stock price movement.
The better-than-expected earnings report and subsequent guidance raise indicate a strong financial health and growth trajectory for Colgate-Palmolive. The positive reaction from analysts and the stock price increase reflect investor confidence and the potential for continued performance improvement.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100