Colgate-Palmolive raises FY24 net sales growth view to 2%-5% from 1%-4%

Based on current spot rates: The company is raising its net sales growth guidance to 2% to 5% (versus 1% to 4% previously) including a mid-single-digit negative impact from foreign exchange (versus low-single-digit negative impact previously). FY24 revenue consensus $18.83B. The company is raising its organic sales growth guidance to 5% to 7% (versus 3% to 5% 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, increased advertising investment and mid to high-single-digit earnings-per-share growth.