Church & Dwight Company ( (CHD) ) has released its Q3 earnings. Here is a breakdown of the information Church & Dwight Company presented to its investors.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Church & Dwight Co., Inc., a prominent manufacturer of household, personal care, and specialty products, has reported its financial results for the third quarter of 2024. The company, known for its ARM & HAMMER brand and other well-known products, operates primarily in the consumer goods sector and emphasizes sustainability in its operations.
In the third quarter of 2024, Church & Dwight reported a net sales increase of 3.8%, with organic sales growth of 4.3%. Despite a reported loss per share of $0.31 due to non-cash asset impairment charges, the adjusted earnings per share reached $0.79, surpassing the company’s expectations. The company achieved a year-to-date cash flow from operations of $863.9 million and anticipates reaching approximately $1.1 billion by year-end.
Key financial highlights include a 3.3% organic sales growth in the Domestic Division and an 8.1% increase in the International Division. The Specialty Products Division, although experiencing an 8.0% decline in net sales, recorded a 7.5% increase in organic sales. The gross margin improved by 80 basis points, and the adjusted gross margin rose by 60 basis points. Church & Dwight also noted a significant increase in marketing expenses, which supported brand investment and growth.
Looking forward, Church & Dwight projects continued growth in net sales and organic sales for the full year, with expectations of a 3.5% and 4.0% increase, respectively. The company aims to maintain momentum into 2025 through strategic investments in marketing and SG&A. Despite the challenges posed by the asset impairment charge, the company remains optimistic about its adjusted EPS growth, forecasting an 8% increase for the year.
Church & Dwight’s management remains committed to robust execution and innovation, aiming to deliver high-performance products at a great value. The company plans to continue its strategic focus on expanding its product range and investing in its brand portfolio, ensuring sustainable growth and shareholder value as it moves into 2025.
