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7/30, 1:09 PM (Source: TeleTrader)
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Colgate reports 12% increase in EPS to $0.83

Colgate-Palmolive Company announced on Friday its earnings per share (EPS) in the second quarter of 2021 rose 12% on the year to $0.83, matching Wall Street expectations. Meanwhile, the company reported better-than-expected revenue for the quarter as net sales increased 9.5% to $4.26 billion.

Looking ahead, the company still expects net sales to increase 4% to 7% this year, while organic sales are seen rising between 3% and 5%. "We are pleased that our strong growth momentum continued in the second quarter, even as we operated in an environment marked by significant volatility," the company's Chairman, President and Chief Executive Officer Noel Wallace said.

Following the announcement, shares of Colgate dipped 0.74% to $82.90in premarket trading.

Breaking the News / JC