Colgate-Palmolive Co. shares fell 3.1% in Friday premarket trading after the consumer products company said growth in 2018 would be challenged. Net income totaled $323.0 million, or 37 cents per share, down from $606.0 million, or 68 cents per share, for the same period last year. Adjusted EPS was 75 cents. Revenue of $3.89 billion was higher than the $3.72 billion reported last year. Adjusted EPS was in line with the FactSet consensus, but the revenue consensus was $3.93 billion. With uncertainty in the global markets and growth challenged, Colgate’s Chief Executive Ian Cook said the company will remain focused on “brand building and increased productivity.” Colgate expects a mid-single digit sales increase in 2018. The FactSet consensus is $16.12 billion, up 4.3% from $15.45 billion this year. Colgate shares are up 13.3% for the past year while the S&P 500 index is up 23.6% for the period.
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