Consumer products company Colgate-Palmolive (NYSE: CL) will be reporting results this Friday before the bell. Here’s what to look for.
Colgate-Palmolive beat analysts’ revenue expectations last quarter, reporting revenues of $5.32 billion, up 8.4% year on year. It was a satisfactory quarter for the company, with a narrow beat of analysts’ organic revenue estimates.
Is Colgate-Palmolive a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Colgate-Palmolive’s revenue to grow 4.6% year on year, improving from the 1.1% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Colgate-Palmolive has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Colgate-Palmolive’s peers in the household products segment, some have already reported their Q2 results, giving us a hint as to what we can expect. WD-40 delivered year-on-year revenue growth of 24.3%, beating analysts’ expectations by 12.9%, and Reynolds reported flat revenue, topping estimates by 1.1%. WD-40 traded up 10.6% following the results.
Read our full analysis of WD-40’s results here and Reynolds’s results here.
There has been positive sentiment among investors in the household products segment, with share prices up 5% on average over the last month. Colgate-Palmolive is up 2.1% during the same time and is heading into earnings with an average analyst price target of $97.65 (compared to the current share price of $93.62).
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