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5/1/2020, 1:07 PM (Source: TeleTrader)
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Colgate-Palmolive Q1 EPS at $0.83, up 28% YoY

Colgate-Palmolive Company announced that its diluted earnings per share (EPS) surged 28% year-on-year to $0.83 in the first fiscal quarter of 2020.

The company's net sales stood at $4.1 billion, marking an increase of 5.5% compared to the first trimester of 2019, while organic sales increased by 7.5%. Operating profit amounted to $952 million in the quarter ending with March 31, 2020, rising by 8.3% from the corresponding quarter the previous year, while net income jumped 27.7% on a yearly basis to $715 million in the opening trimester.

"We [...] expect government actions and consumer behavior related to COVID-19 and economic uncertainty to reduce category growth in many markets. It is the uncertainty related to these factors that has led us to temporarily suspend our financial guidance for 2020," Chairman, President and CEO Noel Wallace said in the company's release.

Baha Breaking News (BBN) / MS