Colgate-Palmolive down on annual sales forecast cut

Shares of toothpaste maker Colgate-Palmolive down about 2% at $75.24 premarket

Co cuts annual sales forecast as rising economic uncertainty is curbing consumer appetite for higher-priced items even in essentials

Now expects annual organic sales growth to be 1% to 2%, down from earlier forecast of growth at the low end of a 2% to 4% range

Quarterly adjusted gross profit margin drops 190 basis points to 59.4%

Continues to expect an impact of about $75 million from tariff-related costs, says co

Reports Q3 sales in line with analysts' estimates and beats adjusted profit expectations

CL down ~15.8% YTD, as of last close