Church & Dwight Reports Third Quarter Results

Church & Dwight Co., Inc. (NYSE:CHD):
2016 Third Quarter Results       2016 Full Year Outlook
  • Reported sales growth of 1.0%; Organic growth of 1.2%
  • Reported/Organic sales of approximately 3%
  • Gross Margin expansion of 60 basis points
  • Gross Margin expansion of 110 basis points
  • Marketing spend increase of 50 basis points
  • Reported EPS growth 14%; Adjusted 8%
  • Reported EPS growth of 4.4%
  • Cash from operations raised to $650MM; +7%

Church & Dwight Co., Inc. (NYSE:CHD) today announced third quarter 2016 EPS of $0.47 per share, a 4.4% increase over the prior year quarter exceeding the Company's outlook. Results were driven by 1.2% organic sales growth and gross margin expansion.

Third quarter 2016 reported net sales increased $8.9 million or 1.0% to $870.7 million driven by global Consumer net sales growth of 2.2%. The global Consumer organic sales grew 2.5% driven by 3.0% volume growth. The Specialty Products business declined 11.3% due to further weakness in the dairy economy which resulted in overall organic sales growth at the lower end of our 1 to 2% outlook. Total organic sales growth of 1.2% was driven by volume growth of 1.7% partially offset by 0.5% from unfavorable product mix and pricing.

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