NEW YORK (TheStreet) -- Shares of Colgate-Palmolive (CL) - Get Report are increasing 0.91% to $73.95 in pre-market trading this morning despite the consumer products company posting lower-than-expected second quarter earnings and revenue before today's market open.
Colgate-Palmolive reported earnings of 67 cents per share, missing analysts estimated 69 cents per share. Revenue came in at $3.845 billion, falling short of analysts projected $3.86 billion.
Last year, the company reported earnings of 70 cents per share on revenue of $4.07 billion.
"In the face of continued challenging macroeconomic conditions worldwide, we are pleased to have achieved another quarter of strong organic sales growth, with every operating division contributing," said Colgate-Palmolive CEO Ian Cook in a statement.
Organic sales grew 4.5% year-over-year, while its Latin America net sales, which represent 24% of company sales, fell 16.5% in the second quarter.
Separately, 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 has this to say about the recommendation:
We rate COLGATE-PALMOLIVE CO as a Hold with a ratings score of C. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its expanding profit margins and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including deteriorating net income and weak operating cash flow.
You can view the full analysis from the report here: CL