Colgate-Palmolive Expects Earnings Growth This Year
January 28 2022 - 8:04AM
Dow Jones News
By Will Feuer
Colgate-Palmolive Co. said it expects to see earnings grow in
2022.
The consumer-products company on Friday said it expects adjusted
per-share earnings growth in the low- to mid-single digits and
double-digit growth on an unadjusted basis.
The company forecast net sales growth of between 1% and 4%,
despite an anticipated low-single-digit negative impact from
foreign exchange.
Colgate-Palmolive said it also expects gross profit margin
expansion and increased advertising investment in the year
ahead.
"There is still much uncertainty stemming from the COVID-19
pandemic, supply chain disruptions, increases in raw material and
logistics costs and volatility in consumer demand and currencies,"
Chairman and Chief Executive Noel Wallace said.
"With costs expected to remain elevated in 2022, our funding the
growth and revenue growth management initiatives, including higher
pricing, will be more important than ever," he said.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
January 28, 2022 07:49 ET (12:49 GMT)
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