Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  Colgate-Palmolive Company    CL

COLGATE-PALMOLIVE COMPANY

(CL)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Procter & Gamble sticks by forecasts; profit meets expectations

10/25/2013 | 11:32am EST
Tide detergent, a Procter & Gamble product, is displayed on a shelf in a store in Alexandria

(Reuters) - Procter & Gamble Co (>> The Procter & Gamble Company) is chugging along with its turnaround, posting a quarterly profit that met Wall Street's expectations and holding to its annual forecasts as the world's largest household products maker gets a lift from cost cuts and a lower tax rate.

(Reuters) - Procter & Gamble Co (>> The Procter & Gamble Company) is chugging along with its turnaround, posting a quarterly profit that met Wall Street's expectations and holding to its annual forecasts as the world's largest household products maker gets a lift from cost cuts and a lower tax rate.

Shares of P&G fell nearly 1 percent to $79.93 in morning trading on Friday.

The maker of Pampers diapers and Tide detergent is trying to reinvigorate itself under Chief Executive Officer A.G. Lafley, who returned in late May to replace Bob McDonald.

Lafley, who did not speak on the company's conference call on Friday, has previously said the current fiscal 2014 would be a "transition" year, after the "stepping stone" year that ended in June. He has already split P&G into four businesses, hoping the new structure will boost efficiency.

"We continue to think the appointment of Lafley is more temporary in nature, until a permanent successor can be named," said Morningstar analyst Erin Lash. She said she was "a bit perplexed" by P&G's decision to have Lafley participate only on certain calls and at major industry conferences as the company works to "instill confidence and reignite its momentum."

P&G said it still expected 5 percent to 7 percent growth in earnings per share this fiscal year, excluding restructuring charges. The company abandoned quarterly forecasts earlier this year.

It still expects organic sales, which strip out the impact of currency changes, acquisitions and divestitures, to rise 3 percent to 4 percent this fiscal year.

Regarding Lafley's absence from the call, a P&G spokesman Paul Fox said: "This change reflects our focus on annual results and trends rather than quarterly results and is consistent with our recent move to fiscal guidance."

SHAMPOO SHOWDOWN

P&G held or increased market share in businesses that represent about two-thirds of its sales during the quarter, Chief Financial Officer Jon Moeller said. While he said he was "reasonably happy" with the results, he added: "We simply have to execute better, more consistently and more reliably."

P&G competes against a variety of companies, including Unilever Plc (>> Unilever plc) (>> UNILEVER). On Thursday, Unilever's results suggested that its North American market share in the high-margin personal care business suffered because of promotions that P&G ran on its hair care products such as Pantene shampoo.

However, Moeller refuted such assertions, saying that P&G's hair care product promotions were down from a year earlier. The company's market share in the category was flat.

Colgate-Palmolive Co (>> Colgate-Palmolive Company) also discussed a more promotional U.S. market when it released its results on Thursday.

"We see a different reality," Moeller told reporters. "Promotion is important, and we will be competitive in our promotional activities, but it is not an area where we seek to lead."

In North America overall, P&G's share of the volume of goods that were sold on promotions was down 7 percent from a year earlier, Moeller said.

P&G said it had earned $3.03 billion, or $1.04 per share, in the first quarter ended on September 30, up from $2.81 billion, or 96 cents per share, a year earlier.

Core earnings per share, which exclude restructuring charges, fell 1 percent to $1.05 and met analysts' expectations, according to Thomson Reuters I/B/E/S.

Sales rose 2.2 percent to $21.21 billion, topping Wall Street's forecast of $21.04 billion.

Organic sales rose 4 percent. Such sales were up in every category except healthcare, where they were flat, due in part to a pet food recall.

The beauty business was a disappointment, with organic sales growth of just 1 percent, analysts said. P&G blamed the sluggish growth on factors such as a decrease in skin care product sales.

JPMorgan analyst John Faucher said he had expected 3 percent organic sales growth in the beauty division.

(Reporting by Jessica Wohl in Chicago; Editing by Lisa Von Ahn)

By Jessica Wohl


© Reuters 2013
Stocks mentioned in the article
ChangeLast1st jan.
COLGATE-PALMOLIVE COMPANY 0.54% 78.61 Delayed Quote.-8.56%
MCDONALD'S CORPORATION -0.02% 213.34 Delayed Quote.-0.56%
RISE, INC. 0.00% 24 End-of-day quote.0.00%
SEEK LIMITED 1.26% 28.83 End-of-day quote.1.05%
THE LEAD CO., INC. 0.49% 824 End-of-day quote.-1.90%
THE PROCTER & GAMBLE COMPANY 1.72% 132.24 Delayed Quote.-6.57%
UNILEVER PLC 1.99% 4465 Delayed Quote.-0.32%
All news about COLGATE-PALMOLIVE COMPANY
01/22COLGATE-PALMOLIVE COMPANY : Ex-dividend day for
FA
01/21COLGATE-PALMOLIVE WEBCASTS 2020 FOUR : 30 a.m. ET
AQ
01/20COLGATE-PALMOLIVE WEBCASTS 2020 FOUR : 30 a.m. ET
BU
01/20COLGATE PALMOLIVE : Bernstein Starts Colgate-Palmolive at Underperform With $77 ..
MT
01/19COLGATE PALMOLIVE : JP Morgan Adjusts Colgate-Palmolive Company PT to $87 From $..
MT
01/14COLGATE PALMOLIVE : Keeps Quarterly Dividend Steady At $0.44 Per Share, Pay Date..
MT
01/14COLGATE PALMOLIVE : Declares Regular Quarterly Dividend
BU
01/13COLGATE PALMOLIVE : Harvard School of Dental Medicine Establish Scholarship to S..
BU
01/12COLGATE PALMOLIVE : UBS Adjusts Price Target on Colgate-Palmolive to $92 From $9..
MT
01/04RBC Capital Markets Sees Progress for Beverages, Packaged Food to Start in H2
MT
More news
Financials (USD)
Sales 2020 16 308 M - -
Net income 2020 2 675 M - -
Net Debt 2020 6 437 M - -
P/E ratio 2020 25,2x
Yield 2020 2,26%
Capitalization 67 382 M 67 382 M -
EV / Sales 2020 4,53x
EV / Sales 2021 4,33x
Nbr of Employees 34 300
Free-Float 58,2%
Chart COLGATE-PALMOLIVE COMPANY
Duration : Period :
Colgate-Palmolive Company Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends COLGATE-PALMOLIVE COMPANY
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 85,05 $
Last Close Price 78,61 $
Spread / Highest target 19,6%
Spread / Average Target 8,19%
Spread / Lowest Target -11,0%
EPS Revisions
Managers and Directors
NameTitle
Noel R. Wallace Chairman, President & Chief Executive Officer
Stanley J. Sutula Chief Financial Officer
Michael Crowe Chief Information Officer
Patricia D. Verduin Chief Technology Officer
Rich Cuprys Vice President-Global Research & Development
Sector and Competitors
1st jan.Capitalization (M$)
COLGATE-PALMOLIVE COMPANY-8.56%67 022
THE PROCTER & GAMBLE COMPANY-6.57%320 122
UNILEVER PLC-0.32%156 930
THE ESTÉE LAUDER COMPANIES INC.-6.15%90 340
HINDUSTAN UNILEVER LIMITED0.22%77 544
RECKITT BENCKISER GROUP PLC-4.10%61 098