Colgate-Palmolive's Organic Sales Rise on Higher Pricing, Volume

By Aisha Al-Muslim

Colgate-Palmolive Co. (CL) said Friday it grew organic sales in the latest quarter, as the consumer goods company charged more for its products and saw positive volume.

The maker of Colgate toothpaste, Palmolive dish soap and Lady Speed Stick deodorant reported a profit for the second quarter of $586 million, or 68 cents a share, down from $637 million, or 73 cents a share, a year earlier.

Excluding items, earnings were 72 cents a share, in line with what analysts polled by FactSet were looking for.

Net sales fell 0.5% to $3.87 billion, within range of the consensus forecast of $3.88 billion. Organic sales grew 4%.

Global unit volume increased 1%, pricing increased 3% and foreign exchange fell 4.5%.

For 2019, the company continues to expect net sales growth of flat to up low-single-digits and organic sales growth of 2% to 4%. The company said it now expect to be at the higher end of that range as it plans to continue to invest in its brands, have higher pricing and innovation.

Write to Aisha Al-Muslim at aisha.al-muslim@wsj.com

(END) Dow Jones Newswires

July 26, 2019 07:32 ET (11:32 GMT)

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