Colgate-Palmolive Tops Sales Expectations, Matches On Profit

Colgate-Palmolive Co. reproted Thursday first-quarter earnings of $533 million, or 59 cents a share, compared with $542 million, or 59 cents a share, in the same period a year ago. Excluding one-time restructuring charges, earnings per share came to 63 cents, matching the FactSet consensus of 63 cents. Revenue fell 7.5% to $3.76 billion, as sales declines in Asia, Europe and Latin America offsetting an increase in North America, but still beat the FactSet consensus of $3.75 billion. Looking ahead, the consumer products company expects adjusted 2016 EPS to be flat with 2015, while the FactSet consensus calls for EPS to decline to $2.77 from $2.81. The stock, which was still inactive in premarket trade, has gained 4% year to date, while the S&P 500 has tacked on 2.5%.