- 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.
at Zacks.com (Nov 4, 2014)