Colgate-Palmolive Co (NYSE:CL) saw its shares slip in premarket trade after the company warned of higher charges from its growth and restructuring programme.
The toothpaste maker, said on Friday that in the third quarter, net income came in at US$607mln or 68 US cents a share, down from US$702mln or 78 US cents a share, a year earlier.
READ: Toothpaste giant Colgate-Palmolive Company shares slide after sales disappoint
Adjusted per-share earnings stood at 73 US cents, in line with market consensus.
Sales rose 3% to $3.974bn, beating Wall Street’s expectations for US$3.941bn.
The company’s chief executive Ian Cook said the company remained leader in the toothpaste market, with a global market share of 43.5%.
Colgate-Palmolive is now expecting its Global Growth and Efficiency restructuring program to generate charges of US$1.28bn to US$1.38bn, up from an earlier guidance of US$1.12bn to US$1.17bn.
In premarket trade, its shares slide 0.41% at US$70.92.