Consumer products company Colgate-Palmolive (NYSE: CL) will be reporting results this Friday morning. Here’s what investors should know.
Colgate-Palmolive met analysts’ revenue expectations last quarter, reporting revenues of $5.36 billion, up 4.9% year on year. It was a mixed quarter for the company, with a decent beat of analysts’ gross margin estimates but organic revenue in line with analysts’ estimates.
Is Colgate-Palmolive a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Colgate-Palmolive’s revenue to grow 4% year on year, improving from the 2% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Colgate-Palmolive has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Colgate-Palmolive’s peers in the consumer staples segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Procter & Gamble delivered year-on-year revenue growth of 4%, beating analysts’ expectations by 2%, and WD-40 reported revenues up 8.1%, topping estimates by 2.7%. Procter & Gamble traded up 2.7% following the results while WD-40 was also up 9.2%.
Read our full analysis of Procter & Gamble’s results here and WD-40’s results here.
There has been positive sentiment among investors in the consumer staples segment, with share prices up 3.6% on average over the last month. Colgate-Palmolive is up 6.4% during the same time and is heading into earnings with an average analyst price target of $98.15 (compared to the current share price of $91.99).
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