Colgate-Palmolive Q1 Profit Rises 3%, Matching View (CL)

Consumer products maker Colgate-Palmolive Company (CL) on Thursday posted a 3% gain in first quarter earnings, matching analyst estimates.

The New York-based company reported first quarter net income of $593 million, or $1.23 per share, compared with $576 million, or $1.16 per share, in the year-ago period. Excluding one-time charges, adjusted profit was $1.24 per share.

Revenue rose 5% from last year to $4.20 billion.

On average, Wall Street analysts expected a matching profit of $1.24 per share, on lower revenue of $4.18 billion.

Colgate-Palmolive shares were mostly flat in premarket trading Thursday.

The Bottom Line
Shares of Colgate-Palmolive (CL) have a 2.49% dividend yield, based on last night’s closing stock price of $99.58. The stock has technical support in the $90-$93 price area. The shares are trading at all-time highs.

Colgate-Palmolive Company (CL) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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