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Sep 30, 2021
Church & Dwight Q3 2021 Earnings Report
Church & Dwight's Q3 2021 results exceeded expectations, driven by strong consumer demand and effective pricing actions.
Key Takeaways
Church & Dwight reported a 5.7% increase in net sales to $1,311.4 million, with organic sales growing by 3.7%. EPS increased by 8.2% to $0.92 per share, and adjusted EPS rose by 14.3% to $0.80 per share, exceeding the company's outlook. The company also announced a $1 billion stock repurchase program.
Net sales increased by 5.7% to $1,311.4 million, driven by growth in domestic, international, and specialty products segments.
Organic sales grew by 3.7%, exceeding the company's outlook of 1.5%.
Adjusted EPS increased by 14.3% to $0.80 per share, surpassing the company's adjusted outlook of $0.70 per share.
The company announced a new stock repurchase program authorizing up to $1 billion of the Company's common stock.
Revenue by Segment
Forward Guidance
The company expects full year 2021 reported sales growth to be approximately 5.5% and organic sales growth to be approximately 4%. Adjusted EPS growth is expected to be 6%. For Q4, the company expects reported sales growth of approximately 3% and organic sales growth of approximately 2%. Adjusted EPS is expected to be $0.61 per share, +15% from last year’s adjusted Q4 EPS.
Positive Outlook
- Expects full year 2021 reported sales growth to be approximately 5.5%.
- Expects full year 2021 organic sales growth to be approximately 4%.
- Expects full year 2021 adjusted EPS growth of 6%.
- Expects Q4 adjusted EPS to be $0.61 per share, +15% from last year’s adjusted Q4 EPS.
- Marketing expense is projected to be 13% of net sales in Q4 to continue to support our brands.
Challenges Ahead
- Expects reported sales growth of approximately 3% in Q4 as we are temporarily constrained by supply.
- Expects organic sales growth of approximately 2% in Q4 as we are temporarily constrained by supply.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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