NEW YORK CITY (dpa-AFX) - (Adds Outlook)
Colgate-Palmolive Co. (CL) released a profit for its fourth quarter that increased from the same period last year and beat the Street estimates.
The company's bottom line came in at $718 million, or $0.87 per share. This compares with $5 million, or $0.01 per share, in last year's fourth quarter.
Excluding items, Colgate-Palmolive Co. reported adjusted earnings of $720 million or $0.87 per share for the period.
Analysts on average had expected the company to earn $0.85 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 6.9% to $4.95 billion from $4.63 billion last year.
Outlook:
Looking ahead, for the full year, the company expects sales growth of 1 percent to 4 percent, from previous year's $19.457 billion. On average, 18 analysts polled by Thomson Reuters expect the firm to record revenue of $20.07 billion, for the year. Analysts' estimates typically exclude special items.
Colgate-Palmolive Co. Q4 earnings at a glance (GAAP) :
-Earnings (Q4): $718 Mln. vs. $5 Mln. last year. -EPS (Q4): $0.87 vs. $0.01 last year. -Analyst Estimate: $0.85 -Revenue (Q4): $4.95 Bln vs. $4.63 Bln last year.
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