Colgate-Palmolive Company (NYSE:CL) stock was down today after the release of its earnings report for the fourth quarter of 2017.
Colgate-Palmolive Company reported earnings per share of 75 cents for the quarter. This matches the company’s earnings per share reported in the same period of the year prior. It also lines up with Wall Street’s earnings per share estimate for the quarter.
Net income reported by Colgate-Palmolive Company for the fourth quarter of the year came in at $353 million. This is drop from the company’s net income of $628 million reported in the fourth quarter of 2016.
During the fourth quarter of 2017, Colgate-Palmolive Company reported operating income of $924 million. This is a decrease from the company’s operating income of $955 million that was reported in the fourth quarter of the prior year.
The drop in operating income for Colgate-Palmolive Company was due to lower operating income in all regions it operates in. This includes operating income declining in North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.
Colgate-Palmolive Company also reported revenue of $3.89 billion for the fourth quarter of 2017, which wasn’t good news for CL stock. The company’s revenue from the same quarter in the previous year was $3.72 billion. Analysts were looking for it to report revenue of $3.93 billion for the period.
Colgate-Palmolive Company’s lower revenue for the fourth quarter of the year came as its saw sales slow in North America. CL says that sales in the region were only up 1% during the quarter. North America sales make up 21% of the company’s total sales.
CL stock was down 6% as of noon Friday.
As of this writing, William White did not hold a position in any of the aforementioned securities.