As people continue to scrub their hands and various surfaces in an effort to stave off COVID-19, Colgate-Palmolive (NYSE:CL) issued positive second-quarter 2020 results today, outstripping several analyst predictions about key earnings metrics. Colgate-Palmolive is noted as a Dividend King, currently providing approximately 2.4% yield annually and featuring a 52% payout ratio

The soap and toothpaste maker posted positive surprises in both earnings per share (EPS) and revenue. Adjusted EPS for the quarter climbed to $0.74, beating the FactSet analyst consensus by $0.04. This figure also represented a 9% jump year over year. Net sales of $3.9 billion only rose 1% compared to last year, but still exceeded the $3.8 billion consensus prediction.

Three bottles of hand sanitizer.

Image source: Getty Images.

The earnings release also highlighted 5.5% growth in organic sales. In a press release, Chief Executive Officer Noel Wallace said this figure "reflected a good balance of positive volume and higher pricing on a worldwide basis and was led by strong growth in North America and Hill's," the latter referring to the company's subsidiary brand Hill's Pet Nutrition, Inc.

The CEO also noted Colgate-Palmolive continues "to see elevated demand across our geographies in certain categories such as liquid hand soap, dish liquid, bar soap and cleaners." The company's North American division posted the strongest quarterly sales figures, with net sales up 12%, organic sales rising 11%, and organic volume jumping 11.5%. Europe also rose somewhat, while the smaller sectors of Africa/Eurasia, Asia Pacific, and Latin America all saw declines.

Colgate-Palmolive still views the pandemic situation as too unpredictable to issue new 2020 financial guidance yet, stating, "we plan to reinstate our guidance when we have the visibility to forecast our results with more confidence."

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