Trefis expects Colgate-Palmolive’s (NYSE:CL) Hill’s Pet Nutrition Revenues to increase from around $2.80 billion in 2020 to $3.10 billion in 2021 and to $3.33 billion in 2022.
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Pet ownership has soared through the Covid-19 related lockdowns and we expect this to bode well for the sales of pet nutrition products.
Hill’s has been the key driver of Colgate’s revenue growth in recent years, and if the segment outperforms, there could be some upside to Colgate stock, which has remained roughly flat year-to-date.
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