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Colgate-Palmolive Analysts Boost Their Forecasts After Better-Than-Expected Earnings
Colgate-Palmolive Company (NYSE:CL) reported better-than-expected first-quarter earnings on Friday.
Colgate-Palmolive reported first-quarter FY24 sales growth of 6.2% year-on-year to $5.065 billion, beating the analyst consensus estimate of $4.956 billion. Non-GAAP EPS of 86 cents beat the consensus estimate of 81 cents, according to data from Benzinga Pro.
Total Oral, Personal, and Home Care net sales increased by 6.8% to $3.96 billion.
Operating margin expanded 160 basis points to 20.7%, and operating income for the quarter increased 15.2% to $1.04 billion.
"The strong gross and operating margin ...