Colgate-Palmolive Company Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2017; Provides Earnings Guidance for the Year 2017
As the company look ahead, uncertainty in global markets and slowing category growth worldwide remain challenging. While based on current spot rates, the company continues to expect a low-single-digit net sales increase for 2017, based on slow start to the year, now expect organic sales growth for 2017 to be modestly below 4% - 7% range with sequential improvement throughout the year. On a GAAP basis, based on current spot rates, the company is planning for a year of gross margin expansion and expect earnings per share on a dollar basis to be flat.