Colgate-Palmolive Tops Expectations, Reaffirms Double-Digit Growth Target

Earnings Scorecard
Actual	Estimated*	Year-Ago
$0.46	$0.45	$0.41

Colgate-Palmolive (CL Quote - Cramer on CL - Stock Picks) announced fourth-quarter earnings that outshone analysts' expectations by a penny amid strong sales of new products and increased market share.

The New York-based household products maker also reaffirmed analysts' expectations for double-digit earnings per share growth in the first quarter and full-year of 2001.

For the fourth quarter, Colgate earned $286.7 million, or 46 cents a share, compared with $260.6 million, or 41 cents a share, a year ago. According to First Call/Thomson Financial, 14 analysts expected earnings of 45 cents a share.

Sales for the quarter were $2.4 billion, up slightly from $2.3 billion last year.

Analysts on average expect Colgate to earn 43 cents a share in the first quarter, compared with 38 cents a share last year, and $1.91 a share for full-year 2001, up from $1.71 a share in 2000.

Shares of Colgate were recently unchanged from Wednesday's closing price of $60.08 on the New York Stock Exchange.