Colgate-Palmolive profit rises 18% amid market share gains (CL)

Thu. October 29, 2009; Posted: 08:01 AM

Oct 29, 2009 (SmarTrend(R) News Watch via COMTEX) -- CL | Quote | Chart | News | PowerRating -- 10/29/2009-Colgate-Palmolive (NYSE:CL) reported Q3 EPS of $1.12, topping consensus estimates by a penny. Revenues in the quarter edged 0.3% higher to $4.0 billion, and came in ahead of consensus estimates of $3.94 billion. Gross profit margin as reported increased to 59.2% in third quarter 2009 from 56.1% in the year ago period.

Ian Cook, Chairman, President and Chief Executive Officer said, "Looking ahead, the excellent gross margin should continue in the balance of the year driven by easing raw and packaging material costs and continued benefit from both price increases already implemented and our ongoing aggressive savings programs. We expect gross profit margin should be at around the same level in the fourth quarter as it was this quarter... Given the continued gross margin strength and our top-line momentum, we are comfortable with external profit expectations for both the fourth quarter and the year. While our 2010 budget process is still in its initial stages, we anticipate another year of double-digit earnings per share growth in 2010."

Write to Chip Brian at cbrian@tradethetrend.com

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For full details on Colgate-Palmolive Co (CL) click here. Colgate-Palmolive Co (CL) has Short Term PowerRatings of 6. Details on Colgate-Palmolive Co (CL) Short Term PowerRatings is available at This Link.

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