Colgate-Palmolive sees FY23 revenue growth 5%-8%, consensus $19.2B

FY23: The Company now expects net sales growth to be 5% to 8% including the benefit from our acquisitions of pet food businesses and a low-single-digit negative impact from foreign exchange. The Company now expects organic sales growth to be 5% to 7%. 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 now expects earnings-per-share growth to be at the high end of mid-single-digits.