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Colgate has been trying to cushion the impact of the dollar's
strength by raising prices, mainly in Latin America, but the
move has hit both revenue and volumes in the region.
Sales in Latin America fell 11 percent in the third quarter
ended Sept. 30, while volumes fell 1 percent. The region
accounts for 27 percent of the company's sales.
Overall, foreign exchange had a 13 percent negative impact on
total sales in the quarter, Colgate said on Friday.
The company said it now expected full-year earnings per share to
decline by a "low to mid-single digit", excluding items, based
on current exchange rates.
The earlier forecast was for a "low single-digit" decline.
Colgate's total sales fell 8.7 percent to $4 billion in the
latest quarter - the fifth straight decline, and slightly below
the average analyst estimate.
Net income attributable to Colgate rose to $726 million, or 80
cents per share, from $542 million, or 59 cents per share, a
year earlier.
Excluding items, the company earned 72 cents per share, matching
the average analyst estimate, according to Thomson Reuters
I/B/E/S.
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by
Ted Kerr)
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