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Colgate (CL) Q4 Earnings in Line, Stock Down as Sales Miss
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Colgate-Palmolive Co. (CL - Free Report) , a global dealer in consumer goods, came out with fourth-quarter 2016 adjusted earnings of 75 cents per share, which came in line with Zacks Consensus Estimate and rose 2.7% year over year. Including one-time items, the company’s earnings of 68 cents per share were significantly ahead of the year-ago loss of 51 cents per share.
For 2017, the company projects adjusted earnings per share to grow at a low-single-digit range on a year over year basis. However, GAAP earnings per share are expected to remain flat.
Earnings Estimate Revision: The Zacks Consensus Estimate for 2017 has been witnessing a downtrend over the past 30 days. However, if we look at Colgate’s performance in the trailing four quarters (including the quarter under review), the company has outperformed the Zacks Consensus Estimate by an average of 0.4%.
Revenues: Colgate’s sales declined 4.5% to $3,721 million during the quarter, as benefit from 2.5% rise in prices was more than offset by a 5.5% fall in volumes and 1.5% negative impact of from currency fluctuations. Quarterly revenues were also short of the Zacks Consensus Estimate of $3,844.3 million. Organic sales climbed 1.5% during the quarter.
Despite tough macroeconomic environment and foreign currency headwinds, management anticipates robust organic sales growth in 2017 buoyed by new product pipeline, impressive marketing programs and solid advertising. However, net sales for 2017 are expected to rise in low-single-digits, due to the persistence of currency headwinds.
Zacks Rank: Currently, Colgate carries a Zacks Rank #4 (Sell) which is subject to change based on the just released earnings results.
Stock Movement: Colgate’s shares dipped nearly 3.2% during pre-market trading hours following the earnings release.
Check back later for our full write up on Colgate’s earnings report!
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Colgate (CL) Q4 Earnings in Line, Stock Down as Sales Miss
Colgate-Palmolive Co. (CL - Free Report) , a global dealer in consumer goods, came out with fourth-quarter 2016 adjusted earnings of 75 cents per share, which came in line with Zacks Consensus Estimate and rose 2.7% year over year. Including one-time items, the company’s earnings of 68 cents per share were significantly ahead of the year-ago loss of 51 cents per share.
For 2017, the company projects adjusted earnings per share to grow at a low-single-digit range on a year over year basis. However, GAAP earnings per share are expected to remain flat.
Earnings Estimate Revision: The Zacks Consensus Estimate for 2017 has been witnessing a downtrend over the past 30 days. However, if we look at Colgate’s performance in the trailing four quarters (including the quarter under review), the company has outperformed the Zacks Consensus Estimate by an average of 0.4%.
Colgate-Palmolive Company Price and EPS Surprise
Colgate-Palmolive Company Price and EPS Surprise | Colgate-Palmolive Company Quote
Revenues: Colgate’s sales declined 4.5% to $3,721 million during the quarter, as benefit from 2.5% rise in prices was more than offset by a 5.5% fall in volumes and 1.5% negative impact of from currency fluctuations. Quarterly revenues were also short of the Zacks Consensus Estimate of $3,844.3 million. Organic sales climbed 1.5% during the quarter.
Despite tough macroeconomic environment and foreign currency headwinds, management anticipates robust organic sales growth in 2017 buoyed by new product pipeline, impressive marketing programs and solid advertising. However, net sales for 2017 are expected to rise in low-single-digits, due to the persistence of currency headwinds.
Zacks Rank: Currently, Colgate carries a Zacks Rank #4 (Sell) which is subject to change based on the just released earnings results.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stock Movement: Colgate’s shares dipped nearly 3.2% during pre-market trading hours following the earnings release.
Check back later for our full write up on Colgate’s earnings report!
The Best Place to Start Your Stock Search
Today, you are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 ""Strong Buy"" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 ""Strong Sells"" and other private research. See these stocks free >>