CL - Colgate-Palmolive Analysts Increase Their Forecasts Following Upbeat Earnings | Benzinga
Colgate-Palmolive Company (NYSE: CL) reported upbeat fourth-quarter financial results.
Colgate-Palmolive reported fourth-quarter FY23 sales growth of 7% year-on-year to $4.95 billion, beating the analyst consensus estimate of $4.89 billion. Base Business (non-GAAP) EPS of 87 cents beat the analyst consensus of 80 cents.
"We leveraged our strong margin performance to invest behind building our brands, with a 19% increase in advertising spending in 2023, and we expect higher levels of brand investment in 2024,” said Noel Wallace, Chairman, President and Chief Executive Officer.
The ...