Colgate-Palmolive beats Q2 adjusted EPS, maintains full-year sales outlook
CL•Quarterly results
Colgate-Palmolive beat second-quarter adjusted earnings estimates and maintained its full-year sales outlook.
- Oral care and household products maker's Q2 net sales rose 4.9%, meeting analyst expectations.
- Base Business EPS for Q2 beat consensus, rising 8% year over year.
- Company maintained full-year sales and GAAP EPS guidance, while updating gross profit margin and Base Business EPS outlook.
Outlook and result drivers
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Colgate-Palmolive sees full-year net sales up 2% to 6%.
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Company expects full-year organic sales growth of 1% to 4%.
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Colgate-Palmolive now expects full-year gross profit margin to be roughly flat.
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Broad-based growth - Organic sales grew in three of four categories and four of five divisions, with sequential improvement in worldwide organic volume growth for the third straight quarter.
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Gross margin expansion - Gross profit margin increased 140 basis points to 61.5%.
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- Advertising investment rose 15% to support long-term business health and innovation.
