12.11.00
Colgate-Palmolive Co. shares climbed Monday after the consumer-products giant reconfirmed that it would meet Wall Street's consensus earnings estimate for the fourth quarter. The average projection of 13 analysts polled by First Call is that Colgate-Palmolive will make 45 cents a share for the period.
"We expect another good quarter, with unit volume up in every operating division, solid upward movement in gross profit margin and a worldwide increase in advertising support," Chairman Reuben Mark said in a statement.
In the third quarter, Colgate reported earnings jumped 16% to 44 cents, or $275.3 million, beating the consensus estimate by a penny. Mr. Mark said operating profits would "be up nicely, while our tax rate will be somewhat higher than the corresponding quarter in 1999, as planned."
Other household and personal care companies reported similar earnings expecations.On Monday, Procter & Gamble Co. said in a SEC filing that it continues to be comfortable with its previously stated estimates for the December quarter and for fiscal year 2001.
On Oct. 31, the company said it expects fourth quarter earnings per share of 91 to 93 cents. Procter & Gamble also estimated that fiscal 2001 earnings per share would increase 7-10%. Last week, Avon Products affirmed its fourth-quarter and full-year earnings are in line with analysts' expectations.
"We expect another good quarter, with unit volume up in every operating division, solid upward movement in gross profit margin and a worldwide increase in advertising support," Chairman Reuben Mark said in a statement.
In the third quarter, Colgate reported earnings jumped 16% to 44 cents, or $275.3 million, beating the consensus estimate by a penny. Mr. Mark said operating profits would "be up nicely, while our tax rate will be somewhat higher than the corresponding quarter in 1999, as planned."
Other household and personal care companies reported similar earnings expecations.On Monday, Procter & Gamble Co. said in a SEC filing that it continues to be comfortable with its previously stated estimates for the December quarter and for fiscal year 2001.
On Oct. 31, the company said it expects fourth quarter earnings per share of 91 to 93 cents. Procter & Gamble also estimated that fiscal 2001 earnings per share would increase 7-10%. Last week, Avon Products affirmed its fourth-quarter and full-year earnings are in line with analysts' expectations.