Colgate-Palmolive Q4 Profit Meets Street Mark, Revenues Miss

Colgate-Palmolive Company shares were lower 1% in recent pre-market trade after the consumer products company reported Friday Q4 adjusted net profit of $0.75 per share, up from $0.73 per share in the prior year period and came in line with the Street estimate provided by Capital IQ.

Net sales were $3.72 billion, down from $3.90 billion reported for the same period last year and came in lower than the $3.86 billion Street estimate.

“As we look ahead, uncertainty in global markets and foreign exchange volatility remain challenging, which sees us redoubling our focus on profitable growth,” CEO Ian Cook said. “While based on current spot rates, we expect a low-single-digit net sales increase for 2017, we anticipate another year of solid organic sales growth driven by a full new product pipeline, engaging marketing programs and strong advertising support.”

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