By Robert Barba 



  Colgate-Palmolive Co. reported a roughly 1% rise in net sales in the latest quarter as demand for soap and cleaners remained elevated during the Covid-19 pandemic. 


  The consumer-goods company reported second-quarter net sales of $3.89 billion, compared with $3.86 billion a year earlier. The company said sales growth was affected by foreign exchange in the quarter and said organic sales, which strip out such levers, were up 5.5% and reflected higher volume and pricing. 


  While the company continues to see higher demand for soaps and cleaners, it is starting to see the effects of consumers working down their pantry inventories, particularly in Europe, said Noel Wallace, chairman, president and chief executive, in prepared remarks. 


  Earnings for the quarter were $635 million, or 74 cents a share, compared with $586 million, or 68 cents a share, a year earlier. Adjusted earnings were also 74 cents a share. 


  Analysts polled by FactSet expected adjusted earnings of 68 cents a share on sales of $3.78 billion. 


  Mr. Wallace also said the company has decided not to reinstate its guidance amid the pandemic. 


  "As we proceed through this pandemic we plan to reinstate our guidance when we have the visibility to forecast our results with more confidence, " he said. 


  Write to Robert Barba at robert.barba@wsj.com