Unpacking Q3 Earnings: Colgate-Palmolive (NYSE:CL) In The Context Of Other Household Products Stocks
Wrapping up Q3 earnings, we look at the numbers and key takeaways for the household products stocks, including Colgate-Palmolive (NYSE:CL) and its peers.
Household products companies engage in the manufacturing, distribution, and sale of goods that maintain and enhance the home environment. This includes cleaning supplies, home improvement tools, kitchenware, small appliances, and home decor items. Companies within this sector must focus on product quality, innovation, and cost efficiency to remain competitive. Household products stocks are generally stable investments, as many of the industry's products are essential for a comfortable and functional living space. Recently, there's been a growing emphasis on eco-friendly and sustainable offerings, reflecting the evolving consumer preferences for environmentally conscious options.
The 10 household products stocks we track reported a mixed Q3; on average, revenues beat analyst consensus estimates by 1.8% Stocks have been under pressure as inflation (despite slowing) makes their long-dated profits less valuable, but household products stocks held their ground better than others, with the share prices up 4.9% on average since the previous earnings results.
Colgate-Palmolive (NYSE:CL)
Formed after the 1928 combination between toothpaste maker Colgate and soap maker Palmolive-Peet, Colgate-Palmolive (NYSE:CL) is a consumer products company that focuses on personal, household, and pet products.
Colgate-Palmolive reported revenues of $4.92 billion, up 10.3% year on year, topping analyst expectations by 2.1%. It was a strong quarter for the company, with a decent beat of analysts' revenue estimates.
Colgate-Palmolive Company (NYSE:CL) today reported results for third quarter 2023. Noel Wallace, Chairman, President and Chief Executive Officer, commented on the Base Business third quarter results, “We are very pleased to have delivered another quarter of strong top and bottom line growth. Net sales increased 10.5% and organic sales grew 9.0% with volume improving sequentially versus second quarter 2023. Gross profit margin, operating profit margin, operating profit, net income, earnings per share and free cash flow all increased versus the year ago quarter.
The stock is up 10.5% since the results and currently trades at $80.72.
Best Q3: Clorox (NYSE:CLX)
Founded in 1913 with bleach as the sole product offering, Clorox (NYSE:CLX) today is a consumer products giant whose product portfolio spans everything from bleach to skincare to salad dressing to kitty litter.
Clorox reported revenues of $1.39 billion, down 20.3% year on year, outperforming analyst expectations by 5.8%. It was an exceptional quarter for the company, with an impressive beat of analysts' earnings estimates.
Clorox achieved the biggest analyst estimates beat but had the slowest revenue growth among its peers. The stock is up 24.4% since the results and currently trades at $143.49.
Is now the time to buy Clorox? Access our full analysis of the earnings results here, it's free.
Weakest Q3: Central Garden & Pet (NASDAQ:CENT)
Enhancing the lives of both pets and homeowners, Central Garden & Pet (NASDAQGS:CENT) is a leading producer and distributor of essential products for pet care, lawn and garden maintenance, and pest control.
Central Garden & Pet reported revenues of $750.1 million, up 6% year on year, exceeding analyst expectations by 2.1%. It was a weak quarter for the company, with underwhelming earnings guidance for the full year.
The stock is up 8.6% since the results and currently trades at $47.62.
Read our full analysis of Central Garden & Pet's results here.
Church & Dwight (NYSE:CHD)
Best known for its Arm & Hammer baking soda, Church & Dwight (NYSE:CHD) is a household and personal care products company with a vast portfolio that spans laundry detergent to toothbrushes to hair removal creams.
Church & Dwight reported revenues of $1.46 billion, up 10.5% year on year, surpassing analyst expectations by 1.5%. It was a mixed quarter for the company, with a decent beat of analysts' revenue estimates but underwhelming earnings guidance for the next quarter.
The stock is up 3.4% since the results and currently trades at $95.
Read our full, actionable report on Church & Dwight here, it's free.
Energizer (NYSE:ENR)
Masterminds behind the viral Energizer Bunny mascot, Energizer (NYSE:ENR) is one of the world's largest manufacturers of batteries.
Energizer reported revenues of $811.1 million, up 2.6% year on year, surpassing analyst expectations by 2.1%. It was a weaker quarter for the company, with a miss of analysts' operating margin estimates.
The stock is down 4.5% since the results and currently trades at $32.17.
Read our full, actionable report on Energizer here, it's free.
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The author has no position in any of the stocks mentioned
