CL stock declines after Q2 organic sales rose just 2.4%, missing expectations due to soft North America performance.
Colgate-Palmolive (CL) shares fell in early trading Friday after reporting second-quarter results. Revenue increased 4.9% year-over-year to $5.36 billion, while organic sales grew 2.4%, below market forecasts.
The company cited a 0.4% negative impact from lower private label pet food sales, weighing on overall performance. North America, its largest market, saw softer demand, offsetting gains in other segments.
Shares retreated as investors focused on the slower organic growth, despite the revenue beat.