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Colgate-Palmolive Maintains FY22 Earnings Growth Outlook - Update
(RTTNews) - While reporting financial results for the first quarter on Friday, Colgate-Palmolive Co. (CL) maintains its earnings and adjusted earnings growth guidance for the full-year 2023, while boosting net sales and organic sales growth outlook.
For fiscal 2023, the company continues to expect earnings per share to grow in double-digit percentage and adjusted earnings per share growth in the mid-single-digit percentage.
However, it now projects net sales growth of 3 to 6 percent, with organic sales growth of 4 to 6 percent. Previously, it expected net sales growth of 2 to 5 percent, with organic sales growth of 3 to 5 percent.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $3.11 per share on sales growth of 4.9 percent to $18.85 billion for the year. Analysts' estimates typically exclude special items.
"Looking ahead, while we still see uncertainty in the global operating environment, particularly in the back half of the year, we feel well positioned to deliver on our increased 2023 sales and earnings growth expectations and drive value for our stakeholders," said Noel Wallace, chairman, President and CEO.
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