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Colgate-Palmolive Shares Fall After Lower Earnings

By Stephanie Lai

 

Colgate-Palmolive Co. shares fell 5.1% to $77.02 Friday after the consumer-products company reported a decline in profit in the latest quarter.

Colgate-Palmolive recorded first-quarter net income of $559 million, down from $681 million a year earlier, citing increased logistics costs that were not offset by the company raising prices on its products.

"We expect the difficult cost environment to continue for the next several quarters," Colgate-Palmolive Chief Executive Noel Wallace said.

 

Write to Stephanie Lai at stephanie.lai@wsj.com

 

(END) Dow Jones Newswires

April 29, 2022 12:19 ET (16:19 GMT)

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