Before the market open on Friday, the New York City-based consumer products company reported adjusted earnings of 73 cents per share, beating analysts' estimates for earnings of 72 cents per share.
However, revenue fell by 7.5% year-over-year to $3.89 billion, slightly lower than analysts' forecasts for earnings of $3.93 billion.
Colgate announced it will no longer include the results of its Venezuela operations in its financial statements due to a decrease in the availability of the dollar. This caused the company to pay a charge of $1.1 billion, or $1.18 per share, the company said.
Including the charges related to the Venezuelan operations, Colgate posted a loss of 51 cents per share during the quarter.
The company is expecting a "low single-digit earnings per share decline" in 2016.
Separately, recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rates this stock as a "hold" with a ratings score of C+. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, notable return on equity and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk, weak operating cash flow and a decline in the stock price during the past year.
You can view the full analysis from the report here: CL