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Colgate-Palmolive warns of potential Q1 losses from Venezuelan currency

  • Colgate-Palmolive (CL) warns it could book one-time losses of $180M-$200M, or $0.19-$0.21/share, during the current quarter tied to Venezuela's recent moves related to the exchange rate for foreign investments.
  • The warning comes a week after Procter & Gamble (PG) cut its FY 2014 profit guidance, citing the devaluation of Venezuela's bolivar.
  • CL also says it is unclear how a new Venezuelan law establishing a maximum 30% profit margin may affect its current pricing strategy in the region.
  • CL -0.4% AH.
Comments (4)
  • tunaman4u2
    , contributor
    Comments (2760) | Send Message
     
    Bullish... everything is !
    18 Feb, 06:11 PM Reply Like
  • maybenot
    , contributor
    Comments (3489) | Send Message
     
    A coming dip? -- one can hope.
    18 Feb, 06:23 PM Reply Like
  • mhanley
    , contributor
    Comments (42) | Send Message
     
    Why do theses companies even mess with Venezuela? It can't even be worth that much!
    18 Feb, 06:53 PM Reply Like
  • whiff
    , contributor
    Comments (654) | Send Message
     
    Pardon me, but the Treasurer of CL, or any company with significant exchange-rate exposure, should not have been caught flat-footed by developments in Venezuela. They play by different rules down there with no room for complacency or cat-napping. Wake up guys (girls) !!
    19 Feb, 09:56 AM Reply Like
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