Charles J. Laurent
Colgate-Palmolive is set to release its fourth-quarter earnings report on Friday before the market opens. Here are the key details you need to be aware of.
According to FactSet, the consumer-products company is projected to report a net income of $701.1 million, a significant increase from $5 million in the previous year.
FactSet also suggests that Colgate-Palmolive is expected to announce revenue of $4.89 billion for the quarter, compared to $4.63 billion in the same period last year.
After excluding one-time items, analysts estimate that earnings will come in at 85 cents per share.
Colgate-Palmolive's stock price experienced a growth of approximately 13% throughout the quarter and is currently trading at $80.64.
According to analysts at J.P. Morgan, Colgate-Palmolive is expected to experience 4% organic growth and an 8% increase in earnings per share in 2024. This prediction is based on the company's strong visibility in terms of both top line and margins. The analysts believe that Colgate-Palmolive's top line will remain durable due to the limited threat from private label products in their primary categories, which mainly include oral care and pet food. In comparison to other companies in the household and personal care industry, Colgate-Palmolive's multi-tiered pricing strategy serves as a key differentiator during economic downturns. Additionally, the company's professional recommendation model in several major categories contributes to its success.
Similarly, analysts at RBC Capital Markets also have positive expectations for Colgate-Palmolive's performance in 2024. They predict a 4.2% organic growth for the fiscal year, driven primarily by pricing and modest volume growth. While acknowledging the company's momentum in terms of revenue, these analysts do express concerns. They point out potential risks associated with a slowing pet category, although they believe that Colgate-Palmolive is better insulated against these risks compared to its peers. Furthermore, weakness in the Chinese market and the possibility of slower growth in emerging markets are identified as additional challenges.
Overall, both sets of analysts foresee a promising future for Colgate-Palmolive in 2024, despite acknowledging certain areas of concern.
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