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Investing.com -- Colgate-Palmolive Company reported fourth-quarter results that fell short of analyst expectations on revenue, sending shares down 1.5% in early trading Friday.
The consumer products giant posted revenue of $4.94 billion for the quarter, missing the consensus estimate of $5.03 billion. However, adjusted earnings per share came in at $0.91, slightly above the $0.90 expected by analysts.
Organic sales, which exclude the impact of foreign exchange, acquisitions and divestitures, grew 4.3% YoY in Q4. This was driven by a 2.5% increase in volume and a 1.8% rise in pricing.
For the full year 2024, Colgate-Palmolive (NYSE:CL) achieved a milestone of over $20 billion in net sales for the first time. Net sales increased 3.3% to $20.1 billion, while organic sales rose 7.4%.
"We are pleased to have delivered another quarter and full year of strong organic sales growth along with increases in gross profit, gross profit margin, net income, earnings per share and cash flow," said Noel Wallace, Chairman, President and Chief Executive Officer.
Looking ahead to 2025, the company expects net sales to be roughly flat, including a mid-single-digit negative impact from foreign exchange. Organic sales growth is projected to be within the company’s long-term target range of 3% to 5%.
Colgate-Palmolive maintained its leadership position in oral care, with a 41.4% global market share in toothpaste and a 32.2% share in manual toothbrushes year-to-date.
The company’s gross profit margin expanded 70 basis points to 60.3% in Q4, both on a GAAP and adjusted basis.