Colgate Palmolive Co Stock Price, News & Analysis

Colgate-Palmolive and Philips have initiated a long-term collaboration aimed at enhancing oral care with electric toothbrushes across select Latin American countries. This partnership combines Colgate's strong market presence and relationships with dental professionals, along with Philips' cutting-edge technology in sonic toothbrushes. The co-branded portfolio, titled Philips Colgate, will offer a variety of electric toothbrushes at different price points, targeting the low usage of such devices in a region where oral hygiene practices are prevalent.

Cresco Labs reported remarkable financial results for 2020, with revenue soaring to $476.3 million, a 271% increase year-over-year. The company excelled as the leading wholesaler of branded cannabis products, benefiting from significant cultivation expansions in Illinois and Pennsylvania. Adjusted EBITDA rose to $116.0 million, reflecting strong operational efficiency. In Q4 2020, revenue was $162.3 million, a 6% quarter-over-quarter increase. The company also secured a $200 million senior secured term loan and successfully completed a $125 million share offering to enhance its financial flexibility.

Cresco Labs (CSE:CL) (OTCQX:CRLBF) announced its definitive agreement to acquire Cultivate Licensing LLC and BL Real Estate LLC for up to US$158 million, including an upfront payment of US$90 million and an earnout of up to US$68 million. This acquisition is expected to enhance Cresco's market position in Massachusetts, a key cannabis market projected to exceed $1 billion. The deal aims to bolster Cresco's leadership in a rapidly growing industry, with operational synergies expected from Cultivate's established presence and premium product offerings.

The Board of Directors of Colgate-Palmolive Company (NYSE:CL) has announced an increase in the quarterly dividend to $0.45 per share from $0.44, effective in Q2 2021. The new dividend will be paid on May 14, 2021 to shareholders of record by April 21, 2021. This raises the annualized dividend to $1.80 from $1.76. Colgate-Palmolive has consistently paid dividends since 1895, underscoring its commitment to returning value to shareholders.

Colgate-Palmolive Company has appointed Kimberly A. Nelson, former Senior Vice President at General Mills, to its Board of Directors, effective immediately. Nelson brings significant expertise in sustainability and social responsibility, having spent nearly 30 years at General Mills, including leadership in various roles. Concurrently, Dr. Helene D. Gayle will retire from the Board effective May 7, 2021, after over a decade of contributions, particularly in governance and corporate responsibility. Colgate expresses gratitude for Gayle's service while welcoming Nelson's capabilities.

Cresco Labs (CSE:CL) (OTCQX:CRLBF) announced the expiration of the waiting period under the Hart-Scott-Rodino Act regarding its acquisition of Bluma Wellness Inc. (CSE: BWEL.U) (OTCQX:BMWLF). The absence of a second request from the DOJ indicates a favorable outcome for the Transaction, expected to close in Q2 2021, pending final approvals. CEO Charles Bachtell expressed optimism about collaborating with Bluma to enhance Cresco's presence in the Florida market.

Colgate-Palmolive Company has been recognized on Fast Company’s 2021 list of the World’s Most Innovative Companies for developing a groundbreaking recyclable plastic tube. This innovation, which transforms High-Density Polyethylene (HDPE) into soft, squeezable tubes, is set to revolutionize recyclable packaging. By 2025, all Colgate products will target 100% recyclable, reusable, or compostable packaging. The company has held approximately 40 sessions sharing this technology with other businesses, promoting sustainability across the industry.

Cresco Labs (CSE:CL) (OTCQX:CRLBF) announced it will report its financial results for Q4 and the full year ending December 31, 2020, on March 25, 2021, before market opens. A conference call will follow at 8:30 AM EDT to discuss these results and provide business highlights. Cresco Labs, a leading multistate cannabis operator, aims to normalize and professionalize the cannabis industry. It is also the largest wholesaler of branded cannabis products in the U.S., with a focus on consumer needs through multiple trusted brands.

Cresco Labs (CSE:CL) (OTCQX:CRLBF), a leading US cannabis operator, announced its participation in key investor conferences. Notable events include the Needham 2nd Annual Virtual Cannabis Conference on March 3, 2021, the 33rd Annual Roth Conference from March 15-17, 2021, where CEO Charlie Bachtell will host a Fireside Chat, and one-on-one meetings on April 7. Additionally, the Stifel Multi-Sector Conference on April 21 will feature management engagements. Cresco aims to foster a professional cannabis industry through its consumer-focused brands and extensive educational initiatives.