Colgate-Palmolive Company (NYSE:CL) on Friday reported better-than-expected third-quarter results. The company narrowed its sales guidance range while raising profitability expectations.
Base Business EPS rose 7% to 97 cents, beating analysts’ consensus estimate of 93 cents. Net sales increased 4.6% to $5.369 billion, above the $5.334 billion estimate.
"Despite consumer uncertainty and ongoing macroeconomic volatility, our proactive focus on driving growth while building flexibility into our P&L gives us confidence we can navigate these challenges while continuing to deliver consistent, compounded earnings per share growth and drive long-term shareholder value," Chairman, President and CEO Noel Wallace said.
Colgate narrowed its 2026 net sales growth outlook to 4%-5% (from 2%-6% previously), implying sales of about $21.197 billion to $21.401 billion, versus the $21.406 billion estimate.
The company raised Base Business EPS growth guidance to 5%-7%, versus up mid-single digits previously, while GAAP EPS is expected to grow at a double-digit rate.
Colgate-Palmolive shares rose 0.1% to $95.33 in pre-market trading.
These analysts made changes to their price targets on Colgate-Palmolive following earnings announcement.
- B of A Securities analyst Bryan Spillane maintained the stock with a Buy and raised the price target from $100 to $105.
- Wells Fargo analyst Chris Carey maintained the stock with an Equal-Weight rating and boosted the price target from $90 to $95.
Considering buying CL stock? Here’s what analysts think:
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