NYSE$CHD
Church & Dwight Co Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Church & Dwight exceeded its outlook with stronger than expected sales growth and gross margin expansion.
Church & Dwight reported a 9.7% increase in net sales to $1,454.2 million and a gross margin expansion of 270 basis points. Organic sales grew by 5.4%, driven by positive product mix and pricing.
- Net sales increased by 9.7%, with domestic sales up by 12.3% and international sales up by 4.9%.
- Organic sales grew by 5.4%, with domestic organic sales up by 6.3% and international organic sales up by 6.1%.
- Gross margin expanded by 270 basis points due to improved pricing, productivity, and the impact of the HERO acquisition.
- Adjusted EPS increased by 21.1% to $0.92, exceeding the Company’s outlook of $0.78.
Headline financials
Revenue & EPS history
Church & Dwight · Revenue · Quarterly
$1.45B
Revenue by segment
Church & Dwight · $1.45B total across 4 segments · Q2 2023
- Household Products$619M+8.1%42.6%
- Personal Care$509M+17.9%35.0%
- Consumer International$242M+4.9%16.6%
- Specialty Products$84.1M-6.5%5.8%
Forward guidance
The Company is raising the full year outlook for Sales, Gross Margin, EPS, and Cash Flow, while funding significant incremental investments in marketing and SG&A.
Tailwinds
- Full year 2023 reported sales growth to be approximately 8%.
- Organic sales growth to be approximately 5%.
- Full year gross margin to expand approximately 200 basis points.
- Double-digit percentage increase in gross profit in full year 2023.
- Cash flow from operations is now expected to be approximately $1.0 billion.
Headwinds
- Second half EPS growth to be flat.
- Expects a significant increase in marketing spending and higher SG&A.
- Higher tax rate in Q3.
- Q3 Adjusted EPS of $0.66 per share, a 13% decrease from last year’s Adjusted Q3 EPS.
- Reported EPS of $0.63 for Q3, a 17.1% decrease.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
+0.2%
Avg return
Earnings day
+0.6%
Avg return
5 days after
+1.4%
Avg return
30 days after
58%
40 / 69 earnings
Positive
+11.3%
Q3 2018
Best reaction
-8.8%
Q3 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.9% | -2.2% | -1.3% | |
| Q4 2025 | +5.7% | +9.4% | +14.0% | |
| Q3 2025 | +5.5% | +6.0% | +4.1% | |
| Q1 2025 | -7.0% | -7.3% | -1.0% | |
| Q4 2024 | -1.5% | +0.1% | +3.8% | |
| Q3 2024 | +3.1% | +3.3% | +10.2% | |
| Q2 2024 | -0.1% | +1.6% | +1.9% | |
| Q1 2024 | -0.1% | +0.6% | +0.7% | |
| Q4 2023 | -1.6% | -1.0% | -1.5% | |
| Q3 2023 | -5.5% | -3.6% | +3.7% | |
| Q2 2023 | -0.3% | +0.9% | -2.8% | |
| Q1 2023 | +5.6% | +5.5% | +2.1% | |
| Q4 2022 | +4.4% | +4.3% | +5.5% | |
| Q3 2022 | -3.1% | -5.3% | +3.1% | |
| Q2 2022 | -7.9% | -9.0% | -11.3% | |
| Q1 2022 | -6.3% | -8.2% | -13.3% | |
| Q4 2021 | +4.0% | +4.6% | +0.0% | |
| Q3 2021 | +2.8% | +4.2% | +9.4% | |
| Q2 2021 | -1.5% | -3.6% | -4.8% | |
| Q1 2021 | +1.6% | +5.9% | +1.6% | |
| Q4 2020 | -3.4% | -4.5% | -9.4% | |
| Q3 2020 | +0.2% | +0.9% | -2.2% | |
| Q2 2020 | +3.7% | +6.4% | +5.4% | |
| Q1 2020 | +4.2% | +7.4% | +9.8% | |
| Q4 2019 | +3.2% | +2.0% | -4.5% | |
| Q3 2019 | -8.8% | -10.8% | -6.9% | |
| Q2 2019 | -3.0% | -3.2% | +4.1% | |
| Q1 2019 | +1.0% | -1.0% | +1.0% | |
| Q4 2018 | -4.0% | -3.1% | +0.4% | |
| Q3 2018 | +11.3% | +14.3% | +11.5% | |
| Q2 2018 | +3.7% | +2.4% | +2.6% | |
| Q1 2018 | +3.2% | +4.1% | +3.2% | |
| Q4 2017 | +3.3% | +4.8% | +7.8% | |
| Q3 2017 | -4.9% | -5.2% | +1.4% | |
| Q2 2017 | -4.4% | -5.7% | -4.8% | |
| Q1 2017 | +4.2% | +3.2% | +7.8% | |
| Q4 2016 | +5.2% | +6.1% | +9.2% | |
| Q3 2016 | -7.3% | -3.0% | -8.1% | |
| Q2 2016 | +3.0% | +3.4% | +2.4% | |
| Q1 2016 | +3.1% | — | — | |
| Q4 2015 | +2.4% | — | — | |
| Q3 2015 | -2.3% | — | — | |
| Q2 2015 | +2.4% | — | — | |
| Q1 2015 | +1.8% | — | — | |
| Q4 2014 | +1.9% | — | — | |
| Q3 2014 | +1.6% | — | — | |
| Q2 2014 | +2.2% | — | — | |
| Q1 2014 | -0.7% | — | — | |
| Q4 2013 | +1.6% | — | — | |
| Q3 2013 | +0.1% | — | — | |
| Q2 2013 | -3.3% | — | — | |
| Q1 2013 | +1.5% | — | — | |
| Q4 2012 | +2.3% | — | — | |
| Q3 2012 | +1.4% | — | — | |
| Q2 2012 | -4.4% | — | — | |
| Q1 2012 | +0.6% | — | — | |
| Q4 2008 | -0.4% | — | — | |
| Q1 2009 | -0.4% | — | — | |
| Q4 2011 | -0.4% | — | — | |
| Q3 2011 | +0.0% | — | — | |
| Q2 2011 | -1.4% | — | — | |
| Q1 2010 | -3.5% | — | — | |
| Q1 2011 | +0.8% | — | — | |
| Q4 2010 | +1.1% | — | — | |
| Q3 2010 | -0.4% | — | — | |
| Q3 2009 | -0.4% | — | — | |
| Q2 2009 | +0.4% | — | — | |
| Q4 2009 | +0.4% | — | — | |
| Q2 2010 | +0.4% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro