Colgate Palmolive Co Stock Price, News & Analysis

Cresco Labs (CSE:CL) (OTCQX:CRLBF), a major cannabis operator in the U.S., has extended its distribution agreement with Kings Garden Inc., a leading California cannabis brand. This agreement allows Cresco's subsidiary, Continuum, to continue as the exclusive distributor of Kings Garden products, enhancing their market presence. Kings Garden is recognized for its premium cannabis products and strong sales performance. The partnership is expected to boost growth and market share for both companies in California, one of Cresco's key markets.

Cresco Labs (CSE:CL, OTCQX:CRLBF) expands its Good News brand to Michigan, tapping into a rapidly growing cannabis market worth nearly $600 million. The launch features gummy edibles crafted for different moods — Me Time (Indica), Brunch (Hybrid), Friyay (Sativa), and Vegas (Sativa). Michigan, now the tenth state to legalize adult-use cannabis, generated over $104 million in sales in October alone. This expansion adds to Cresco’s portfolio, which includes brands like Mindy’s and High Supply, enhancing product variety for both medical and recreational consumers.

Cresco Labs (CSE:CL) (OTCQX:CRLBF) has finalized an agreement with lenders to extend the maturity of its senior secured term loan to January 23, 2023, with a reduced interest rate of 12% annually. The loan size will increase to $200 million, with $85 million from existing and new institutional lenders. This funding aims to support Cresco's expansions across nine states and other growth initiatives. CEO Charlie Bachtell emphasized the positive implications of this financing in enhancing the company’s operational flexibility and capital efficiency.

Colgate's recent research indicates that its toothpastes containing zinc and stannous, along with mouthwashes with cetylpyridinium chloride, can neutralize COVID-19 by 99.9%. Laboratory studies showed Colgate Total and Meridol toothpastes had this effect after two minutes, while Colgate mouthwashes were effective after just 30 seconds. A clinical study involving 50 hospitalized COVID-19 patients is underway, revealing these products can temporarily reduce viral load in the mouth. Colgate is collaborating on further research to explore potential roles of oral care in reducing COVID-19 transmission.

Colgate-Palmolive (NYSE:CL) Group President Panagiotis Tsourapas will engage in a virtual fireside chat at the Morgan Stanley Global Consumer & Retail Conference on December 2, 2020, at 11:00 a.m. ET. Investors can access the live webcast on Colgate's website, and a recorded version will be available later. Colgate-Palmolive focuses on health-related products across various sectors, aiming for sustainable growth and superior shareholder returns. For further details about their initiatives, visit www.colgatepalmolive.com.

Colgate-Palmolive Company (NYSE:CL) announced the appointment of Stanley J. Sutula as the new Chief Financial Officer, effective November 9, 2020. Sutula, currently serving as CFO at Pitney Bowes, brings extensive experience from his previous 28 years at IBM. He is recognized for leveraging technology and data analytics to drive revenue growth. Henning Jakobsen, the outgoing CFO, will transition to a Senior Vice President role until his retirement at the end of 2020. The leadership change aims to strengthen Colgate's financial strategies and performance.

Colgate-Palmolive Company (NYSE:CL) reported robust third quarter results for 2020, with net sales rising by 5.5% to $4,153 million and organic sales up 7.5%. GAAP EPS increased 21% to $0.81, while Base Business EPS rose 11% to $0.79. Gross profit margin improved by 220 basis points to 61.2%. Market leadership was maintained in toothpaste (39.9% share) and manual toothbrushes (31.1% share). The company expects full-year sales to rise by mid-single digits, alongside earnings growth. Enhanced advertising investments and premium innovations are driving the positive momentum.