By Emily Dattilo
Shares of Colgate-Palmolive were falling after the consumer products company turned in higher earnings than expected but disappointed investors with its financial guidance.
The stock was down 5.5% to $85.93 in early trading.
For its fourth quarter, the company reported adjusted earnings of 91 cents per share, beating the consensus call for 89 cents among analysts tracked by FactSet. Net sales of $4.94 billion were below the consensus estimate of $4.98 billion.
"Our goals for 2024 were to deliver peer leading growth while funding investment for future growth and building flexibility into our P&L to counter macro headwinds," said CEO Noel Wallace in a statement. "We delivered on those goals, leaving us well positioned to deliver against our guidance in 2025."
For 2025, Colgate forecasts net sales to be roughly flat, while analysts had penciled in an increase of about 1%.
The company expects organic sales growth to be within the 3% to 5% range it has set as a long-term target, including the effects of a plan to leave the private-label pet nutrition business over the course of the year.
Write to Emily Dattilo at emily.dattilo@dowjones.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
January 31, 2025 09:53 ET (14:53 GMT)
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