Consumer products giant Colgate-Palmolive Company (NYSE: CL) reported higher earnings and revenues for the fourth quarter of 2020. The results also exceeded Wall Street’s prediction.
Adjusted earnings advanced to $0.77 per share in the final three months of 2020 from $0.73 per share last year. Reported profit was $647 million or $0.75 per share, compared to $643 million or $0.75 per share in the fourth quarter of 2019.
At $4.3 billion, net sales were up 8% year-over-year. Both earnings and the top-line surpassed analysts’ forecast. There was an 8.5% growth in organic sales.
Read management/analysts’ comments on Colgate’s Q4 results
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Shares of the company closed the last trading session higher, after declining in the early weeks of the year.