NYSE$CHD
Church & Dwight Co Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Church & Dwight exceeded its outlook with stronger than expected sales growth and gross margin expansion.
Church & Dwight reported a 3.9% increase in net sales, reaching $1,511.2 million, and a 4.7% growth in organic sales. Adjusted EPS was $0.93, exceeding the company's outlook of $0.83. The company has raised its outlook for full-year gross margin and cash from operations.
- Net sales increased by 3.9%, with domestic sales up 3.8%, international sales up 9.0%, and specialty products division sales down 8.6%.
- Organic sales grew by 4.7%, driven by volume and positive product mix and pricing.
- Adjusted gross margin increased by 150 basis points.
- Reported EPS was $0.99, and adjusted EPS was $0.93, exceeding the company’s outlook.
Headline financials
Revenue & EPS history
Church & Dwight · Revenue · Quarterly
$1.51B
Revenue by segment
Church & Dwight · $1.46B total across 4 segments · Q3 2023
- Household Products$636M+7.4%43.7%
- Personal Care$497M+18.8%34.1%
- Consumer International$244M+11.2%16.8%
- Specialty Products$78.4M-10.1%5.4%
Forward guidance
The company expects full year organic sales growth to be approximately 4%. Reported sales growth is expected to be approximately 3.5%. Full year adjusted gross margin expansion is raised to approximately 100-110 basis points versus 2023. Full year reported EPS growth to be approximately 12 to 13% and adjusted EPS growth to be at the lower end of the 8 to 9% range. Cash flow from operations is now expected to be approximately $1.08 billion.
Tailwinds
- Strong sales growth
- Gross margin expansion
- Earnings growth
- New product launches performing well
- Cash flow from operations expected to be approximately $1.08 billion
Headwinds
- Uncertain consumer environment
- Category consumption growth has moderated
- Tightening organic revenue outlook
- Adjusted SG&A is now expected to be higher as a percent of sales compared to 2023
- Q3 Adjusted EPS of $0.67 per share, down 10% versus last year’s adjusted Q3 EPS
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 2024
+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% | — | — |
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