Colgate-Palmolive Holds Lead in Oral Hygiene, Forex Limits Growth

Colgate-Palmolive maintained its lead in oral hygiene market share over the second quarter even as unadjusted sales growth stagnated. The toiletries manufacturer and distributor reported second-quarter revenue of $4.35 billion, level with a year earlier and below analysts' estimates of $4.4 billion. Profits of 67 cents a share were 11% higher year over year but missed expectations of 71 cents a share. Excluding a $54 million charge associated with global growth and restructuring efforts and sale of land in Mexico, the company earned 73 cents a share, in line with analyst consensus. The company reaffirmed full-year EPS guidance growth of 4% to 5%. TheStreet's Keris Lahiff reports from New York.