Consumer products giant Colgate-Palmolive (NYSE: CL) reported higher earnings and revenues for the first quarter of 2020. Earnings also exceeded Wall Street’s prediction.
Adjusted earnings advanced to $0.75 per share in the first three months of 2020 from $0.67 per share last year. Reported profit rose to $715 million or $0.83 per share from $560 million or $0.65 per share in the first quarter of 2019.
At $4.1 billion, net sales were up 5.5% year-over-year. The top-line matched analysts’ forecast, while earnings beat. There was a 7.5% growth in organic sales.
Shares of the company closed the last trading session higher. The stock has remained pretty stable over the years. Currently, it is trading close to the levels seen a year earlier.