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7/26/2019, 1:04 PM (Source: TeleTrader)
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Colgate-Palmolive EPS in Q2 drops 6.85% to $0.68

Colgate-Palmolive Co. reported on Friday that its net sales in the second quarter of 2019 amounted to $3.87 billion, 0.5% lower on an annual basis. In the same timeframe, diluted earnings per common share (EPS) slid 6.85%, down to $0.68 apiece.

The gross profit margin stood at 59.7% in the three months through June in 2019 versus 59.2% recorded during the comparable quarter of the previous year. The company reported that its global unit volume increased by 1% compared to the second quarter of 2018, its pricing rose by 3.0% at the same time, while the foreign exchange was negative 4.5%.

"Advertising investment increased in absolute dollars and as a percent to sales versus the second quarter 2018, with increases as a percent to sales in every division. Colgate’s leadership of the global toothpaste market continued during the quarter with our global market share at 41.4% year to date. Our global leadership in manual toothbrushes also continued with Colgate’s global market share in that category at 31.7% year to date," the company's President and CEO Noel Wallace stated, adding that he expects a low-single-digit decline in earnings per share in 2019.

Breaking the News / MA