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Dec 31, 2024
Church & Dwight Q4 2024 Earnings Report
Church & Dwight exceeded its outlook with stronger than expected sales growth, driven by strong consumer demand across its portfolio and geographies.
Key Takeaways
Church & Dwight reported Q4 2024 results with net sales increasing by 3.5% to $1,582.0 million and organic sales growing by 4.2%. Reported EPS was $0.76, and adjusted EPS increased to $0.77. The company's performance exceeded its initial outlook, driven by higher volume and positive price and product mix.
Net sales increased by 3.5%, with domestic growth of 2.7%, international growth of 10.2%, and a decrease in specialty products of 6.6%.
Organic sales grew by 4.2%, driven by higher volume and positive price/mix.
Adjusted EPS increased by 18.5% to $0.77 compared to Q4 2023.
The company expects 3% to 4% organic sales growth and 7% to 8% adjusted EPS growth in 2025.
Church & Dwight
Church & Dwight
Church & Dwight Revenue by Segment
Revenue by Segment
Household Products Revenue
CapyFin.comPersonal Care Products Revenue
CapyFin.comConsumer International Revenue
CapyFin.comSpecialty Products Division Revenue
CapyFin.com Forward Guidance
In 2025, the company expects reported sales growth of approximately 2.5% to 3.5% and volume driven organic sales growth of approximately 3-4%. Adjusted EPS expectation for 2025 is 7% to 8% growth.
Positive Outlook
- Strong operating fundamentals including organic sales growth
- Volume growth
- Margin expansion
- Operating income growth
- Cash flow from operations is expected to be approximately $1.15 billion
Challenges Ahead
- Continued cautious view of the US consumer as inflationary pressures are unchanged and interest rates remain high.
- Full year gross margin is expected to expand approximately 25 basis points versus 2024 as we expect persistently elevated input costs to be offset by favorable mix, higher volume and productivity.
- Marketing as a percentage of sales is expected to exceed 11% of sales.
- We expect SG&A as a percentage of sales to be lower versus 2024 while making investments for our future, especially ecommerce and International.
- EPS growth to be weighted towards the second half of 2025 as marketing spend is weighted to the first half in support of our innovation.
Revenue & Expenses
Visualization of income flow from segment revenue to net income