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Colgate-Palmolive (CL) on Friday reported better-than-expected first-quarter results and lifted its full-year sales outlook, although it lowered its profit projection.
The maker of Colgate toothpaste, Speed Stick deodorant, and Irish Spring soap reported base business, or adjusted, earnings per share (EPS) of $0.91 on net sales of $4.91 billion. Analysts had expected $0.85 and $4.88 billion, respectively, according to Visible Alpha.
Colgate-Palmolive adjusted its full-year outlook "based on current spot rates and including the estimated impact of tariffs." It now expects net sales to be up by a low-single-digit percentage versus "roughly flat" previously, as it anticipates a lesser negative impact from foreign exchange rates. However, it cuts its base business EPS forecast to low-single-digit percentage growth, down from a low- to mid-single-digit increase.
"As we look ahead, uncertainty and volatility in global markets, including the impact of tariffs, remain challenging," CEO Noel Wallace said. "We are confident in our strategy and will continue to execute with focus and agility to mitigate these factors and achieve our revised 2025 financial targets."
Colgate-Palmolive shares rose 1.4% an hour before the opening bell Friday. They entered the day up 2% since the start of the year.
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