Is Colgate-Palmolive a Buy After Earnings?
Colgate-Palmolive posted earnings on Friday morning.
Colgate said profits for the three months ending in June were pegged at 74 cents per share, up 2.8% from the same period last year and 4 cents ahead of the Street consensus forecast. Group revenues, Colgate said, rose 1% to $3.9 billion, again topping analysts' estimates of a $3.8 billion tally.
Home cleaning supply sales were a big part of the stronger-than-expected fourth quarter earnings from rival Procter & Gamble PG yesterday, which were driven by a 14% rise in revenues from its fabric and home care division, which include cleaning products such as Comet, Joy, Febreze and Cascade.
Procter & Gamble said core profits for the three months ending in June, the group's fiscal fourth quarter, rose 5.5% to $1.16 per share on revenues of $17.7 billion.
“While net sales growth was significantly impacted by foreign exchange, the 5.5% organic sales growth reflected a good balance of positive volume and higher pricing on a worldwide basis and was led by strong growth in North America and Hill’s," said CEO Noel Wallace.
“We continue to see elevated demand across our geographies in certain categories such as liquid hand soap, dish liquid, bar soap and cleaners," he added. "In other categories, we are starting to see the impact of consumers working down their pantry inventories, particularly in Europe."
You can follow Katherine Ross on Twitter at @byKatherineRoss.
Latest Videos From TheStreet and Jim Cramer:
- Coronavirus Update: What Merck, Chevron, Colgate-Palmolive, Caterpillar Said About the Pandemic
- Apple Needs to Show Lifetime Value of iPhone User, Cramer Says
- Sell-Off Thursday: Jobless Data, Tech Hurts Market
- Who Has the Power to Delay the Presidential Election?
- What Apple's 4-For-1 Stock Split Means for Investors