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Colgate (CL) Posts in Line Q1 Earnings, Sales Beat Estimates

Colgate-Palmolive Co. CL, a global dealer in consumer goods, came out with first-quarter 2016 adjusted earnings of 63 cents per share that came in line with the Zacks Consensus Estimate but fell nearly 5% year over year. Including one-time items, the company’s earnings remained flat year over year at 59 cents per share.

For 2016, the company now projects earnings per share to remain flat year over year, on a dollar basis.

Earnings Estimate Revision: The Zacks Consensus Estimate for 2016 has been on an uptrend over the past 30 days. However, if we look at Colgate’s performance in the trailing four quarters (including the quarter under review), the company has underperformed the Zacks Consensus Estimate by an average of -0.01%.

Revenues: Colgate’s global sales descended 7.5% to $3,762 million during the quarter, as benefit from 1.5% rise in prices and 3.5% jump in volumes were more than offset by a negative impact of 8% from currency fluctuations. However, quarterly revenues beat the Zacks Consensus Estimate of $3,734 million, after missing the same for eleven straight quarters.

Organic sales rose 5% during the quarter. Despite tough macroeconomic environment and foreign currency headwinds, management anticipates robust organic sales growth in 2016 buoyed by new product categories.

Zacks Rank: Currently, Colgate carries a Zacks Rank #3 (Hold) which is subject to change based on the just released earnings results.

Check back later for our full write up on Colgate’s earnings report!

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