Colgate-Palmolive Sees Higher 2nd Half Costs Eating Into Margins
July 30 2021 - 8:01AM
Dow Jones News
By Adriano Marchese
Colgate-Palmolive Co. said Friday that sales targets for 2021
remain on track, but cost-pressures will chip away at its margins
in the second half of the year.
The consumer-products company on Friday said that it still
expects net sales to be up 4% to 7% including a low-single-digit
benefit from foreign exchange, but gross profit margin is expected
to decline.
As a result, earnings per share are expected to be at the lower
end of its low- to mid-single-digit range.
Colgate-Palmolive still expects organic sales to be up within
its long-term targeted range of between 3% and 5%.
"As we look around the world, there is still much uncertainty
stemming from the COVID-19 pandemic, including volatility in
consumer demand and currencies and supply chain disruptions,"
Chairman and Chief Executive Officer Noel Wallace said.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
July 30, 2021 07:59 ET (11:59 GMT)
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