Colgate-Palmolive Co
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Consumer Staples : Household Products | Large Cap Blend
Company profile

Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia. The Company's oral care products include Colgate Total, Colgate Sensitive Pro-Relief, Colgate Max Fresh and Colgate Optic White. The Company is also engaged in various product categories of the personal care market with operations in liquid hand soap, which it sells under the Palmolive, Protex and Softsoap brands. The Company manufactures and markets a range of products for the home care market, including Palmolive and Ajax dishwashing liquids, Fabuloso and Ajax household cleaners and Murphy's Oil Soap. The Company, through its Hill's Pet Nutrition segment (Hill's), manufactures pet nutrition products for dogs and cats.

Closing Price
$81.88
Day's Change
-0.06 (-0.07%)
Bid
--
Ask
--
B/A Size
--
Day's High
82.44
Day's Low
81.69
Volume
(Heavy Day)
Volume:
6,359,615

10-day average volume:
4,396,069
6,359,615

Zoom sales more than quadruple again, but stock still drops

4:20 pm ET November 30, 2020 (MarketWatch)
Print

By Jon Swartz

Zoom racked up another blockbuster quarter, with a second straight quarterly revenue jump of more than 350% and adjusted earnings increasing by 11x

Zoom Video Communications Inc. reported another blockbuster quarter Monday, as the company's videoconferencing software continued to be a lifeline for users during the COVID-19 pandemic, but shares still pulled back in late trading.

Zoom ZM (#phrase-company?ref=COMPANY%7CZM;onlineSignificance=prominent) said Monday that revenue jumped more than 350% for a second consecutive quarter, continuing a mind-blowing run -- revenue increased 169% in the first full quarter of shelter-in-place orders in the U.S., and 355% in the previous quarter. Zoom predicted that the same would happen in the fourth quarter, projecting revenue to top $800 million for the first time after recording less than $200 million in the fourth quarter least year, and increased its annual revenue goal to roughly $2.58 billion.

"We expect to strengthen our market position as we finish the fiscal year with an increased total revenue outlook of approximately $2.575 billion to $2.580 billion for fiscal year 2021, or approximately 314% increase year-over-year," Zoom Chief Executive Eric Yuan said in a statement announcing the results.

Shares, which have already grown by more than 580% this year, fell more than 5% in after-hours trading.

While investors have jumped on Zoom this year amid the staggering gains, analysts are keeping a keen eye on 2021, when Covid-19 vaccines are expected to be available from Pfizer Inc. (PFE) and Moderna Inc. (MRNA), and the impact that may have on Zoom's growth as Americans possibly return to work.

For now, Zoom (ZM) continues to flourish during the darkest days of the pandemic. The company reported third-quarter results that topped Wall Street estimates, with net income of $198.4 million, or 66 cents a share, compared with net income of a penny a share in the year-ago quarter. After adjusting for stock-based compensation and other effects, the company reported earnings of 99 cents a share, up from 9 cents a share a year ago.

Revenue catapulted 367% to $777.2 million from $166.6 million a year ago. Analysts surveyed by FactSet had expected earnings of 76 cents a share on revenue of $694 million.

The trajectory of revenue growth, however, is expected to slowly decline the next two quarters, according to analysts polled by Refinitiv. In the current fourth quarter, which ends in January, Zoom's growth is expected to reach 288%, followed by 116% in the following quarter.

"(T)here's going to be perceptual headwinds with Pfizer's vaccine," Chaim Siegel, an analyst at research firm Elazar Advisors, said in a note this month. Siegel lowered his rating on Zoom to buy from strong buy.

Still, Zoom remains one of the big tech winners during the pandemic, as millions of Americans use it for video chat, along with Alphabet Inc.'s (GOOGL)(GOOGL) Google Meet, Microsoft Corp.'s (MSFT) Teams and Apple Inc.'s (AAPL) FaceTime.

Zoom shares have skyrocketed 585% this year, while the broader S&P 500 index has climbed 12% in 2020.

-Jon Swartz; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

November 30, 2020 16:20 ET (21:20 GMT)

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