As people continue to scrub their hands and various surfaces in an effort to stave off COVID-19, Colgate-Palmolive (NYSE: CL) issued positive second-quarter 2020 results today, outstripping several analyst predictions about key earnings metrics. Colgate-Palmolive is noted as a Dividend King, currently providing approximately 2.4% yield annually and featuring a 52% payout ratio.
The soap and toothpaste maker posted positive surprises in both earnings per share (EPS) and revenue. Adjusted EPS for the quarter climbed to $0.74, beating the FactSet analyst consensus by $0.04. This figure also represented a 9% jump year over year. Net sales of $3.9 billion only rose 1% compared to last year, but still exceeded the $3.8 billion consensus prediction.
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