Colgate-Palmolive Co., also known as CL, announced an increase in its profit for the fourth quarter compared to the same period last year. CL's earnings also surpassed the projections made by financial analysts on the Street.
The company's net income was recorded at $718 million, which equated to earnings of $0.87 per share. This shows a significant increase from the $5 million, or $0.01 per share profit, reported during last year's fourth quarter.
When adjusting for certain one-off items, Colgate-Palmolive Co.'s adjusted earnings amounted to $720 million, translating to $0.87 per share for this particular period.
On average, financial analysts had projected the company's earnings to reach $0.85 per share based on figures compiled by Thomson Reuters. However, these estimates usually exclude extraordinary items.
Colgate-Palmolive Co. recorded an increase of 6.9% in its total revenue for the quarter, which rose to $4.95 billion from the previous year's $4.63 billion.
To summarise, Colgate-Palmolive Co.'s earnings report (based on Generally Accepted Accounting Principles, or GAAP) for the fourth quarter is as follows:
- Earnings (Q4): $718 million, compared to $5 million for the same period last year.
- Earnings per share (Q4): $0.87, compared to $0.01 for the same period last year.
- Analysts' estimated earnings: $0.85.
- Revenue for the quarter (Q4): $4.95 billion, compared to $4.63 billion for the same period last year.
