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Colgate-Palmolive (NYSE: CL) reaffirmed its full-year 2026 sales forecast on Friday after reporting solid second-quarter results, although persistent weakness in North America and concerns over new U.S. tariffs weighed on investor sentiment, sending the company's shares down about 2.5% in premarket trading.
The consumer goods giant continues to face softer demand in the U.S., where higher food and fuel costs linked to the Middle East conflict have pressured household budgets, particularly among lower-income consumers. The challenging environment has affected demand across both value and premium household and personal care products.
North America remained the company's weakest region during the quarter. Organic sales declined 3%, primarily due to a 3.9% drop in volumes. Colgate attributed the decline to slower category growth, market share losses, heightened competition, and inventory reductions by major retail partners.
Despite these headwinds, Colgate maintained its forecast for annual net sales growth of 2% to 6%. The company also raised the lower end of its adjusted earnings growth outlook for 2026, now expecting mid-single-digit growth compared with its previous guidance of low- to mid-single-digit growth.
However, management warned that recently introduced U.S. tariffs of 10% and 12.5% under the Trump administration are expected to create additional cost pressures. The company said these tariffs are likely to more than offset the benefits it received from tariff refunds during the second quarter.
The cautious outlook echoes comments from rival Procter & Gamble (NYSE: PG), which earlier this week projected slower revenue growth for fiscal 2027 after missing quarterly sales expectations amid what it described as a difficult geopolitical and economic backdrop.
For the quarter ended June 30, Colgate-Palmolive reported net sales of $5.36 billion, up 4.9% from a year earlier and matching analysts' estimates compiled by LSEG. Adjusted earnings came in at 99 cents per share, exceeding Wall Street expectations of 95 cents, reflecting continued pricing discipline and operational efficiency despite ongoing macroeconomic challenges.
