Colgate-Palmolive narrows FY24 net sales growth view to 3%-5% from 2%-5%

FY24 revenue consensus $20.18B. Now sees FY24: Net sales growth of 3% to 5% (versus 2% to 5% previously) including a mid-single-digit negative impact from foreign exchange. The company now expects organic sales growth of 7% to 8% (versus 6% to 8% 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 now expects earnings per share growth of 10% to 11% (versus 8% to 11% previously).