Colgate-Palmolive (CL) will likely post "muted" Q1 results amid slower topline growth in key markets, RBC Capital Markets said in a note Wednesday.
The report pointed to cautious management sounding inter-quarter due to slower category trends in the US and Latin America, consumer pressures, destocking, and tariffs.
"We are expecting a muted print for CL given slower category trends and destocking impacts and continue to see headwinds lingering throughout the year," RBC said.
"FX pressures have modesty eased but still see the dollar as a headwind in 2025," it added.
The report also said tariffs will be another issue for Colgate-Palmolive as it makes a "meaningful" amount of toothpaste for the US market in Mexico.
The company has been working on mitigation strategies, including managing inventory and/or shifting manufacturing but they do expect an impact, the note added.
RBC has a sector perform rating on the stock and a $97 price target.
Price: 93.97, Change: -1.84, Percent Change: -1.92
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