Colgate-Palmolive Falls 2.5% Despite Q1 Beats

Colgate-Palmolive Company (NYSE: CL) reported its 2020 first-quarter results on Friday before market open. While the sprawling consumer goods giant beat analyst estimates on both the top and bottom lines for the quarter, it pulled its full-year 2020 guidance. This seemed to displease the market.

The company posted just under $4.10 billion in net sales, a 5.5% improvement over the same quarter last year. Net income under generally accepted accounting principles (GAAP) rose far more precipitously, advancing almost 28% to $715 million ($0.83 per share).

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Source Fool.com