Colgate-Palmolive Profit Rises in 2Q; Sees Difficult Cost Environment in 2nd Half
July 30 2021 - 8:01AM
Dow Jones News
By Adriano Marchese
Colgate-Palmolive Co. said Friday that profit rose in the second
quarter, benefiting from a rise in revenue, but cost pressures are
expected to continue into the second half of the year.
The consumer-products company said earnings per share were 83
cents, up from 74 cents a year earlier.
Net income was $703 million, compared with $635 million, it
said.
On a base business basis--an adjusted metric--earnings were 80
cents a share, meeting consensus analyst expectations according to
FactSet.
Net sales rose to $4.26 billion from $3.9 billion, while organic
sales grew 5% in the quarter, driven by both volume growth and
higher pricing, the company said.
The company said that it expects a difficult cost environment to
continue in the latter half of the year, and that it remains
focused on funding its growth and revenue growth management
initiatives.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
July 30, 2021 07:49 ET (11:49 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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