Loading...
•
Dec 31, 2021
Church & Dwight Q4 2021 Earnings Report
Church & Dwight reported Q4 2021 results with net sales and EPS exceeding expectations.
Key Takeaways
Church & Dwight reported a 5.7% increase in net sales for Q4 2021, reaching $1,368.7 million. EPS increased by 8.5% to $0.64 per share, and adjusted EPS grew by 20.8%. Organic sales grew by 4.3%.
Net sales increased by 5.7%, driven by growth in domestic, international, and specialty products divisions.
Organic sales grew by 4.3%, exceeding the company's outlook.
EPS increased by 8.5% to $0.64 per share, with adjusted EPS growth of 20.8%.
The company closed on the THERABREATH® acquisition in late December, expecting $100 million in sales for 2022.
Church & Dwight
Church & Dwight
Church & Dwight Revenue by Segment
Church & Dwight Revenue by Geographic Location
Revenue by Segment
Household Products Revenue
CapyFin.comPersonal Care Products Revenue
CapyFin.comConsumer International Revenue
CapyFin.comSpecialty Products Division Revenue
CapyFin.comRevenue by Geographic Location
Consumer Domestic Revenue
CapyFin.com Forward Guidance
The Company expects full year 2022 reported sales growth to be approximately 5%-8% and organic sales growth to be approximately 3%-6%. We estimate full year EPS of $3.14 to $3.26, an increase of 4%-8% compared to prior year adjusted EPS.
Positive Outlook
- Categories expected to remain at elevated consumption levels, including gummy vitamins, laundry, laundry additives, hair growth supplements, and cat litter.
- Household penetration is increasing, and existing households are consuming more vitamins.
- Committed to offsetting inflation with price increases.
- Expect operating profit margin expansion of 60 to 70 basis points compared to prior year adjusted operating margin.
- THERABREATH ® brand to be fully integrated by the end of 2022 and continue to pursue accretive acquisitions.
Challenges Ahead
- Expect incremental cost inflation of $155 million versus 2021.
- Expect to experience higher inflation at a faster rate than our price increases take effect in 2022.
- The 2022 effective tax rate is expected to be approximately 23%, an increase of 320 basis points.
- Full year reported gross margin to be down versus 2021, as we expect inflation to be partially offset by pricing and productivity.
- Cash flow from operations is expected to be approximately $920 million as we increase safety stock inventory levels
Revenue & Expenses
Visualization of income flow from segment revenue to net income