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10/27/2023, 12:56 PM (Source: TeleTrader)
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Colgate-Palmolive's Q3 EPS surge 16% to $0.86

Colgate-Palmolive Co. announced on Friday its earnings per share (EPS) in the third quarter of 2023 rose 16% year-on-year to land at $0.86. Meanwhile, net sales climbed 10.5% in the third trimester to reach $4.9 billion, in comparison to $4.5 billion recorded in the same period a year prior.

For the entire 2023, the company expects net sales growth to expand between 6% and 8%, while organic sales are projected to rise between 7% and 8%.

"The momentum in our business and the strength of our profit and cash flow performance adds to our confidence that we are executing the right strategies to deliver on our raised 2023 financial targets and generate long-term value for our stakeholders," the firm's Chief Executive Officer Noel Wallace said.

The company's shares declined 0.11% in the premarket trading after the release of the third-quarter figures.

Baha Breaking News (BBN) / JJ