RTTNews | Jan 28, 2022 07:13AM EST

07:13 Friday, January 28, 2022 (RTTNews.com) - While reporting financial results for the fourth quarter on Friday, Colgate-Palmolive Co. (CL) initiated its earnings and sales growth guidance for the full-year 2022.

For fiscal 2022, the company now expects earnings per share to grow in double-digit percentage and adjusted earnings per share growth in the mid-single-digit percentage. It also projects net sales growth of 1 to 4 percent, with organic sales growth of 3 to 5 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $3.36 per share on sales growth of 2.8 percent to $17.93 billion for the year. Analysts' estimates typically exclude special items.

"We are encouraged that our investments in innovation, advertising and digital transformation are paying off and feel confident that we are well positioned to continue to deliver sustainable, profitable growth in 2022 and beyond," said Noel Wallace, Chairman, President and CEO.

For the fourth quarter, the company reported net income of $148 million or $0.18 per share, sharply lower than $647 million or $0.75 per share in the prior-quarter. Excluding items, base business earnings were $0.79 per share, compared to $0.77 per share in the year-ago quarter. Net sales for the quarter grew 2.0 percent to $4.40 billion from $4.32 billion in the same quarter last year. Organic sales grew 3.0 percent.

Analysts expected quarterly earnings of $0.79 per share on sales of $4.42 billion.

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