Colgate-Palmolive Company (NYSE:CL) shares sank 3.6% in pre-market deals as second quarter sales disappointed the market.
Revenue for the three months came in at $3.83bn from $3.85 billion, below consensus estimates of $3.90bn, in what was, the company described, as a 'challenging period'.
Net profit fell to $524mln from $600 million a year earlier and EPS (earnings per share), not including non-recurring items was 72 cents - in line with consensus.
Oral, personal and home care revenue slipped to $3.25bn, from $3.27 billion, missing consensus of $3.32 billion.
Chief executive Ian Cook said: "The second quarter was another challenging one.
"Net sales declined 0.5% and organic sales were even with the year ago quarter, below our expectations as a result of continued softness in North America and challenges in Asia Pacific.
"Despite this, we are encouraged by another quarter of strong organic sales growth in Latin America and the return to positive organic sales growth at Hill's.
“Colgate’s leadership of the global toothpaste market continued during the quarter with its global market share now at 43.6% year to date. Our global leadership in manual toothbrushes also continued with Colgate’s global market share in that category now at 32.8% year to date.
“As we look ahead, uncertainty in global markets and slowing category growth worldwide remain challenging. Based on current spot rates, we continue to expect a low-single-digit net sales increase for 2017, and given our slower than expected first half, we are now planning for low-single-digit organic sales growth for 2017."