Colgate-Palmolive Company (NYSE:CL) shares rose Friday after the consumer products maker reported first-quarter results that beat Wall Street expectations, as steady demand and category leadership helped offset margin pressure and mixed regional performance.
The company reported adjusted earnings of 97 cents per share, topping analyst estimates of 94 cents. Revenue came in at $5.324 billion, ahead of the $5.215 billion consensus.
Sales Growth And Market Leadership
Net sales increased 8.4%, while organic sales rose 2.9%, including a 0.6% headwind from lower private-label pet food sales. Colgate-Palmolive said it maintained global leadership, with a 41.1% share in toothpaste and 32.6% in manual toothbrushes year to date.
Performance varied by region. North America net sales declined 1.8%, with operating profit falling 28% to $141 million. Latin America net sales rose 14.8%, with operating profit up 15% to $401 million. Europe, Middle East and Africa posted an 11.9% increase in net sales and a 20% rise in operating profit to $266 million.
“These results underscore the resilience of our business model as we are able to execute against our long-term …