=Colgate-Palmolive (CL) reported earnings on Fri 21 July 2017 (b/o)

Colgate-Palmolive reports EPS in-line, misses on revs; tempers outlook for organic sales growth :

• Reports Q2 (Jun) earnings of $0.72 per share, excluding non-recurring items, in-linewith the Capital IQ Consensus of $0.72; revenues fell 0.5% year/year to $3.83 bln vs the $3.89 bln Capital IQ Consensus.
• Co reaffirms expectation for a low-single-digit net s ales increase for 2017, now expects low-single-digit organic sales growth for 2017; now expects mid-single-digit earnings per share percentage decline on a dollar basis. Consensus calls for 2% sales growth and 4% EPS growth.
  • "As we look ahead, uncertainty in global markets and slowing category growth worldwide remain challenging. Based on current spot rates, we continue to expect a low-single-digit net sales increase for 2017, and given our slower than expected first half, we are now planning for low-single-digit organic sales growth for 2017."
  •   "We are pleased with the progress of our 2012 Restructuring Program, and, as we have previously said, we continue to pursue additional savings opportunities, especially given the current challenging environment. In the second quarter, we identified additional opportunities under our Program that take us to the upper end of our previously disclosed cost and savings ranges. As a result, on a GAAP basis, based on current spot rates, we are planning for a year of gross margin expansion and now expect a mid-single-digit earnings per share percentage decline on a dollar basis."
  • "Excluding charges resulting from the 2012 Restructuring Program and the other 2016 one-time items previously disclosed, based on current spot rates, we continue to plan for a year of strong operating cash flow, gross margin expansion, increased advertising investment and low-single-digit earnings per share growth on a dollar basis."