Colgate-Palmolive Backs FY21 Outlook; Q2 Results Top View - Quick Facts

(RTTNews) - While reporting financial results for the second quarter on Friday, Colgate-Palmolive Co. (CL) maintained its earnings, adjusted earnings and sales growth guidance for the full-year 2021.

For fiscal 2021, the company now expects earnings per share to grow at the lower end of its low to mid-single-digit percentage range and adjusted earnings per share growth at the lower end of its mid to high-single-digit percentage range. It also projects net sales growth of 4 to 7 percent, with organic sales growth of 3 to 5 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $3.28 per share on sales growth of 6.2 percent to $17.49 billion for the year. Analysts' estimates typically exclude special items.

For the second quarter, the company reported net income of $703 million or $0.83 per share, compared to $635 million or $0.74 per share in the prior-quarter. Excluding items, base business earnings were $0.80 per share, compared to $0.74 per share in the year-ago quarter. Net sales for the quarter grew 9.5 percent to $4.26 billion from the same quarter last year. Organic sales grew 5.0 percent.

Analysts expected quarterly earnings of $0.80 per share on sales of $4.24 billion.