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Colgate-Palmolive Company (CL) Stock Slammed by Sinking Sales

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Colgate-Palmolive Company (NYSE: CL ) stock was hit hard today following poor sales during its fourth quarter of 2016.

During the fourth quarter of 2016, Colgate-Palmolive Company reported revenue of $3.72 billion. This is down from the $3.9 billion in revenue reported during the same time last year. It also didn't meet Wall Street's revenue estimate of $3.87 billion for the quarter.

Colgate-Palmolive Company notes that sales in North America were flat from the same time last year. However, Latin America sales were down 10.5% , Europe sales were down 7.5%, Asia Pacific sales were down 4% and Africa/Eurasia sales were down 1.5%.

Colgate-Palmolive Company reported earnings per share of 75 cents for the fourth quarter of the year. This is an increase over its earnings per share of 73 cents from the fourth quarter of 2015. It also matched analysts earnings per share estimate of 75 cents for the fourth quarter of 2016.

Net income reported by Colgate-Palmolive Company for the fourth quarter of 2016 came in at $606 million. This is better than the net loss of $458 million that the consumer products company reported during the same period of the year prior.

Colgate-Palmolive Company reported operating income of $955 million during the fourth quarter of the year. CL reported an operating loss of $139 million during the fourth quarter of 2015.

"We are planning for a year of strong operating cash flow, gross margin expansion and increased advertising investment and expect low-single-digit earnings per share growth on a dollar basis," Colgate-Palmolive Company Chairman, President and CEO Ian Cook said in a statement about 2017.

CL stock was down 5% as of Noon Friday.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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