Colgate-Palmolive's Revenue Falls, Margin Compresses as Profit Rises
January 25 2019 - 7:50AM
Dow Jones News
By Allison Prang
Colgate-Palmolive Co.'s (CL) profit in the fourth quarter rose
as income tax costs declined substantially, but the company's top
line also declined and its gross profit margin compressed.
The company reported net income of $606 million, up 88% from the
comparable quarter a year ago. It reported earnings of 70 cents a
share, up from 37 cents a share. Analysts polled by Refinitiv were
expecting earnings of 73 cents a share.
The company reported adjusted earnings of 74 cents a share down
from 75 cents a share. Analysts were still expecting 73 cents a
share.
Net sales fell 2.1%, to $3.81 billion. Analysts polled by
Refinitiv were expecting $3.77 billion.
Gross profit margin was 59.1%, down from 59.8% a year
earlier.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
January 25, 2019 07:35 ET (12:35 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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