(Boursier.com) — Colgate-Palmolive loses ground before the stock market on Wall Street, while the American group, a player in consumer products, announced a fourth quarter in line with expectations while deploring difficult macroeconomic conditions. For the fourth quarter, the group posted revenue growth of 5% and an increase of 8.5% in organic sales. Over the year, revenues thus increased by 3%, of which 7% organically. The annual adjusted earnings per share, of $2.97, declined by 7% but came out in line with the group’s guidance and with the consensus. Adjusted EPS for the quarter ended was 77 cents. Colgate-Palmolive’s fourth-quarter sales were $4.63 billion, down from $4.4 billion a year earlier and FactSet consensus $4.59 billion.
“Net sales increased 5% in the fourth quarter and organic sales increased 8.5% with growth in every division and across our four categories, despite challenging macro conditions around the world,” said the CEO, Noel Wallace. Colgate now forecasts 2023 sales up 2% to 5% and EPS up in the low-to-mid single digits.
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