Navigate this market better. Subscribe for FREE stock alerts and information.

Thursday, January 30, 2014

Colgate's profit beats estimates due to cost cuts, (NYSE: CL)

Colgate-Palmolive Co, the world's largest toothpaste maker, reported a better-than-expected quarterly profit as cost cuts helped the company offset the negative impact of a stronger dollar.The company gets about 80 percent of its revenue from outside the United States.Colgate's gross margins rose in the quarter ended Dec. 31 as the company cut costs by negotiating better lease terms with suppliers, using cheaper raw material and reducing packaging material in products.The company, which controls about 45 percent of the global toothpaste market, said it expected gross margin expansion to continue and its 2014 adjusted earnings growth to be in line with analysts' estimates.

Colgate-Palmolive Company (Colgate) is a consumer products company whose products are marketed in over 200 countries and territories throughout the world. Shares of CL traded higher by 0.29% or $0.18/share to $61.77. In the past year, the shares have traded as low as $53.37 and as high as $66.49. On average, 2872250 shares of CL exchange hands on a given day and today's volume is recorded at 1141145.