Colgate-Palmolive Co. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2016. For the quarter, the company's net sales were $3,845 million against $4,066 million a year ago. Operating profit was $944 million against $932 million a year ago. Income before income taxes was $919 million against $926 million a year ago. Net income attributable to Colgate-Palmolive Company was $600 million against $574 million a year ago. Earnings per common share - basic and diluted were $0.67 against $0.63 a year ago. Non-GAAP income before income taxes was $978 million against $994 million a year ago. Non-GAAP net income attributable to Colgate- Palmolive Company was $631 million against $639 million a year ago. Non-GAAP diluted earnings per share were $0.70 against $0.70 a year ago.

For the six months, the company's net sales were $7,607 million against $8,136 million a year ago. Operating profit was $1,811 million against $1,792 million a year ago. Income before income taxes was $1,758 million against $1,778 million a year ago. Net income attributable to Colgate-Palmolive Company was $1,133 million against $1,116 million a year ago. Earnings per common share - diluted were $1.26 against $1.22 a year ago. Net cash provided by operations was $1,320 million against $1,223 million a year ago. Capital expenditures were $248 million against $280 million a year ago. Non-GAAP income before income taxes was $1,872 million against $1,946 million a year ago. Non-GAAP net income attributable to Colgate- Palmolive Company was $1,202 million against $1,248 million a year ago. Non-GAAP diluted earnings per share were $1.33 against $1.36 a year ago.

For the year 2016, the company expects a low to mid-single-digit net sales decline for the year due to continued currency headwinds. Despite this, the company continue to anticipate another year of solid organic sales growth in 2016, driven by a full new product pipeline across all categories and geographies. On a GAAP basis, based on current spot rates, the company are planning for a year of gross margin expansion and expect high double-digit earnings per share growth, reflecting the impact of the 2015 charge related to the deconsolidation of Venezuelan operations. The company continue to plan for a year of gross margin expansion, and continue to expect earnings per share to be flat with 2015 on a dollar basis. This reflects a double-digit increase in earnings per share on a currency-neutral basis, excluding Venezuela from 2015 and 2016 results.