Colgate-Palmolive Sees 2022 Margins Compressing
April 29 2022 - 7:45AM
Dow Jones News
By Will Feuer
Colgate-Palmolive Co. said it expects its gross profit margins
to compress this year even as it voiced optimism about sales
growth.
The consumer-products company said it now expects full-year net
sales to be at the high end of its guidance for 1% to 4% growth.
The company also raised its guidance on organic sales, which strips
out currency effects, to 4% to 6% growth, up from 3% to 5%.
The company also said it now expects to see its gross profit
margins decline on both a GAAP and adjusted basis. The company
previously said it expected margin expansion.
The company said it still expects double-digit
earnings-per-share growth, but it now expects adjusted earnings to
fall by a mid-single-digit percentage. It previously expected
mid-single-digit adjusted earnings growth.
"As we look around the world, there is still much uncertainty
stemming from the COVID-19 pandemic, supply chain disruptions, the
war in Ukraine and volatility in consumer demand and currencies.
Despite this environment, we are encouraged by our growth
momentum," Chief Executive Noel Wallace said.
"As we manage through this difficult time, we are committed to
executing our plans with the right balance of pricing, productivity
and brand support," he said.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
April 29, 2022 07:30 ET (11:30 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
Colgate Palmolive (NYSE:CL)
Historical Stock Chart
From Jun 2024 to Jul 2024
Colgate Palmolive (NYSE:CL)
Historical Stock Chart
From Jul 2023 to Jul 2024