Colgate-Palmolive backs FY24 net sales growth view of 2%-5%

FY24 revenue consensus $20.18B. For FY24, based on current spot rates: The company still expects net sales growth of 2% to 5% including a mid-single-digit negative impact from foreign exchange. The company is raising its organic sales growth guidance to 6% to 8% (versus 5% to 7% previously). On a GAAP basis, the company still expects gross profit margin expansion, increased advertising investment and double-digit earnings per share growth. On a non-GAAP (Base Business) basis, the company still expects gross profit margin expansion and increased advertising investment and increased its earnings per share growth guidance to 8% to 11% (versus mid to high-single-digit previously).