Colgate-Palmolive Expects Earnings Growth This Year

By Will Feuer

Colgate-Palmolive Co. said it expects to see earnings grow in 2022.

The consumer-products company on Friday said it expects adjusted per-share earnings growth in the low- to mid-single digits and double-digit growth on an unadjusted basis.

The company forecast net sales growth of between 1% and 4%, despite an anticipated low-single-digit negative impact from foreign exchange.

Colgate-Palmolive said it also expects gross profit margin expansion and increased advertising investment in the year ahead.

"There is still much uncertainty stemming from the COVID-19 pandemic, supply chain disruptions, increases in raw material and logistics costs and volatility in consumer demand and currencies," Chairman and Chief Executive Noel Wallace said.

"With costs expected to remain elevated in 2022, our funding the growth and revenue growth management initiatives, including higher pricing, will be more important than ever," he said.

Write to Will Feuer at [e-mail]

(END) Dow Jones Newswires

January 28, 2022 07:49 ET (12:49 GMT)

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