NEW YORK (TheStreet) -- Colgate-Palmolive (CL) - Get Report stock is down 1.60% to $67.83 in morning trading on Thursday after the company reported earnings that were lower than analysts' estimates, but revenue was in line with expectations for the second quarter of 2015.
The company posted earnings of 63 cents per diluted share on revenue of $4.07 billion for the quarter ended June 30.
Analysts had estimated earnings of 70 cents per share on revenue of $4.07 billion for the second quarter of 2015.
Colgate-Palmolive attributed its second quarter results to increased costs for raw and packaging materials, and higher foreign exchange costs.
Sales fell 8.5% in Latin America, where the company makes about 27% of total sales, and 16.5% in Europe and the South Pacific, which account for 18% of total sales.
Last year, Colgate-Palmolive reported earnings of 67 cents per diluted share on revenue of $4.35 billion for the second quarter.
Separately, TheStreet Ratings team rates COLGATE-PALMOLIVE CO as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate COLGATE-PALMOLIVE CO (CL) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its increase in net income, notable return on equity, expanding profit margins and growth in earnings per share. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."
You can view the full analysis from the report here: CL Ratings Report