Colgate-Palmolive raises FY23 net sales growth view to 6%-8% from 5%-8%

For FY23: Based on current spot rates: The Company now expects net sales growth to be 6% to 8% (versus 5% to 8% previously), including the benefit from our acquisitions of pet food businesses and a low-single-digit negative impact from foreign exchange. FY23 revenue consensus $19.34B.The company increased its organic sales growth guidance to 7% 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 high-single digits.