[PART I - FINANCIAL INFORMATION](index=5&type=section&id=PART%20I) This section presents the company's financial statements, management's discussion and analysis, and disclosures on market risk and internal controls [Financial Statements](index=5&type=section&id=Item%201.%20Financial%20Statements) The company reported strong Q2 and H1 2024 financial growth, with increased net sales, gross profit, and diluted EPS, supported by a robust balance sheet Q2 & H1 2024 Key Financial Performance (in millions, except per share data) | Metric | Q2 2024 | Q2 2023 | % Change | H1 2024 | H1 2023 | % Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **Net Sales** | $1,511.2 | $1,454.2 | 3.9% | $3,014.5 | $2,884.0 | 4.5% | | **Gross Profit** | $712.1 | $638.9 | 11.5% | $1,399.1 | $1,260.9 | 11.0% | | **Income from Operations** | $336.9 | $293.6 | 14.7% | $641.9 | $585.5 | 9.6% | | **Net Income** | $243.5 | $221.2 | 10.1% | $471.2 | $424.4 | 11.0% | | **Diluted EPS** | $0.99 | $0.89 | 11.2% | $1.91 | $1.72 | 11.0% | Balance Sheet Summary (in millions) | Account | June 30, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | **Total Current Assets** | $1,755.2 | $1,529.7 | | **Total Assets** | $8,762.1 | $8,569.2 | | **Total Current Liabilities** | $1,149.7 | $1,422.0 | | **Total Liabilities** | $4,456.6 | $4,713.8 | | **Total Stockholders' Equity** | $4,305.5 | $3,855.4 | Cash Flow Summary - Six Months Ended June 30 (in millions) | Cash Flow Activity | 2024 | 2023 | | :--- | :--- | :--- | | **Net Cash Provided By Operating Activities** | $499.9 | $509.2 | | **Net Cash Used In Investing Activities** | $(91.5) | $(69.2) | | **Net Cash Provided By (Used In) Financing Activities** | $(257.4) | $(315.4) | | **Net Change In Cash and Cash Equivalents** | $147.2 | $126.6 | [Notes to Condensed Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes detail key accounting policies, including the Graphico, Inc. acquisition, potential impairment risks for VITAFUSION/LIL' CRITTERS and WATERPIK, and segment performance - On June 3, 2024, the Company acquired Graphico, Inc., a Japan-based distributor, for **$19.9 million** net of cash[34](index=34&type=chunk) - The VITAFUSION and LIL' CRITTERS trade name, with a carrying value of **$281.3 million**, is susceptible to future impairment risk due to continued market share decline, significant competition, and reduced shelf space[42](index=42&type=chunk)[44](index=44&type=chunk)[45](index=45&type=chunk) - The global WATERPIK business has experienced a significant decline in customer demand due to lower discretionary spending and a shift to value-branded products, eroding the excess fair value over its carrying value of **$644.7 million** and making it susceptible to impairment[46](index=46&type=chunk)[47](index=47&type=chunk) Segment Net Sales & Income Before Taxes - H1 2024 vs H1 2023 (in millions) | Segment | H1 2024 Net Sales | H1 2023 Net Sales | H1 2024 Income | H1 2023 Income | | :--- | :--- | :--- | :--- | :--- | | **Consumer Domestic** | $2,335.8 | $2,245.1 | $512.4 | $459.4 | | **Consumer International** | $518.7 | $472.5 | $65.9 | $56.4 | | **SPD** | $160.0 | $166.4 | $22.1 | $16.0 | | **Corporate** | $0.0 | $0.0 | $4.2 | $6.4 | | **Total** | **$3,014.5** | **$2,884.0** | **$604.6** | **$538.2** | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=34&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes Q2 net sales growth to volume and price/mix, with gross margin expanding significantly due to a tariff ruling and productivity, while maintaining strong liquidity and executing strategic transactions Consolidated Results Summary - Q2 2024 vs Q2 2023 | Metric | Q2 2024 | Q2 2023 | Change | | :--- | :--- | :--- | :--- | | **Net Sales** | $1,511.2M | $1,454.2M | +3.9% | | **Gross Margin** | 47.1% | 43.9% | +320 bps | | **Operating Margin** | 22.3% | 20.2% | +210 bps | | **Diluted EPS** | $0.99 | $0.89 | +11.2% | - A favorable tariff ruling from the U.S. government related to certain products imported from China resulted in a **$26.1 million** reduction in Cost of Goods Sold during the second quarter of 2024, contributing **180 basis points** to the gross margin increase[70](index=70&type=chunk)[76](index=76&type=chunk) - The company completed several strategic transactions in 2024: acquired Graphico, Inc. to expand in the APAC region, exited the MEGALAC supplement portion of its Animal Nutrition business, and sold its Passport food safety business[69](index=69&type=chunk) - As of June 30, 2024, the company had strong liquidity with **$491.7 million** in cash and approximately **$1.495 billion** available through its Revolving Credit Facility and commercial paper program[92](index=92&type=chunk) [Results of Operations](index=36&type=section&id=Results%20of%20Operations) Consolidated Q2 2024 net sales increased 3.9% driven by volume and price/mix, with gross margin expanding significantly due to a tariff ruling and productivity, alongside increased marketing and SG&A expenses Components of Net Sales Increase - Q2 2024 | Component | Contribution | | :--- | :--- | | Product volumes sold | 3.5% | | Pricing/Product mix | 1.2% | | Foreign exchange rate fluctuations | (0.1%) | | Exit of product lines (net of acquisition) | (0.7%) | | **Net Sales increase** | **3.9%** | - Q2 2024 gross margin increased by **320 basis points**, driven by a favorable tariff ruling (**180 bps**), productivity programs (**120 bps**), and favorable price/mix/volume (**80 bps**), partially offset by higher manufacturing costs (**50 bps**)[76](index=76&type=chunk) - Marketing expenses increased by **15.3%** to **$152.4 million** in Q2 2024, primarily to support new product introductions[77](index=77&type=chunk) [Segment Results](index=38&type=section&id=Segment%20results) Q2 2024 saw Consumer Domestic and International sales growth, while Specialty Products (SPD) sales decreased due to divestitures, though showing growth excluding these impacts - Consumer Domestic Q2 net sales increased **3.8%**, driven by strong performance from THERABREATH®, HERO® acne products, and ARM & HAMMER® Cat Litter, partially offset by declines in VITAFUSION® supplements and WATERPIK® Shower Heads[83](index=83&type=chunk) - Consumer International Q2 net sales grew **9.0%**, with a **4.6%** increase in volume and **4.7%** from price/mix[85](index=85&type=chunk)[86](index=86&type=chunk) - SPD Q2 net sales decreased **8.6%**, primarily due to a **12.5%** negative impact from exiting the MEGALAC and Passport businesses[89](index=89&type=chunk)[90](index=90&type=chunk) [Liquidity and Capital Resources](index=44&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains strong liquidity with substantial cash and credit facility availability, repaid a term loan, increased its quarterly dividend, and expects operating cash flow to fund future needs - The company has a **$1.5 billion** unsecured revolving credit facility and a corresponding commercial paper program, with approximately **$1.495 billion** available as of June 30, 2024[92](index=92&type=chunk) - No stock was repurchased under the 2021 Share Repurchase Program in 2024, leaving **$658.9 million** available for repurchase[94](index=94&type=chunk) - The Board declared a **4%** increase in the quarterly dividend to **$0.28375 per share**, effective in Q1 2024[95](index=95&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=46&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) This section refers to the company's Annual Report on Form 10-K for detailed quantitative and qualitative disclosures regarding market risk - For information regarding market risk, the company directs investors to Item 7A of Part II in its Form 10-K[99](index=99&type=chunk) [Controls and Procedures](index=46&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, evaluated the company's disclosure controls and procedures and concluded they were effective as of June 30, 2024 - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of the end of the period covered by this report[100](index=100&type=chunk) - No changes in internal control over financial reporting occurred during the most recent fiscal quarter that have materially affected, or are reasonably likely to materially affect, the company's internal controls[101](index=101&type=chunk) [PART II - OTHER INFORMATION](index=48&type=section&id=PART%20II) This section covers legal proceedings, risk factors, equity sales, other disclosures, and a list of exhibits [Legal Proceedings](index=48&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various legal actions and government proceedings in the ordinary course of business, with uncertain outcomes - The Company is subject to various pending or threatened legal actions and proceedings in the ordinary course of business, the outcomes of which are subject to many uncertainties[104](index=104&type=chunk) [Risk Factors](index=48&type=section&id=Item%201A.%20Risk%20Factors) This section refers to the risk factors discussed in Item 1A of the company's Annual Report on Form 10-K, which could materially affect the company's business - The report directs readers to the 'Risk Factors' section in the company's Form 10-K for a detailed discussion of factors that could materially affect the business[105](index=105&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=50&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q2 2024, the company did not repurchase any shares of its Common Stock, leaving $658.9 million available under the 2021 Share Repurchase Program - No shares of Common Stock were repurchased during Q2 2024 as part of the company's publicly announced plans[106](index=106&type=chunk)[107](index=107&type=chunk) - As of June 30, 2024, the company has **$658.9 million** remaining under its 2021 Share Repurchase Program authorization[106](index=106&type=chunk) [Other Information](index=50&type=section&id=Item%205.%20Other%20Information) During the three months ended June 30, 2024, none of the company's directors or executive officers adopted or terminated a Rule 10b5-1 trading plan - No directors or executive officers adopted or terminated any Rule 10b5-1 securities trading plans during the second quarter of 2024[108](index=108&type=chunk) [Exhibits](index=51&type=section&id=Item%206.%20Exhibits) This section provides an index of the exhibits filed with the Form 10-Q, including corporate governance documents and certifications - The Exhibit Index lists all documents filed with the report, such as the Certificate of Incorporation, By-laws, and CEO/CFO certifications[109](index=109&type=chunk)

Start Time: 10:00 January 1, 0000 11:02 AM ET Church & Dwight Co., Inc. (NYSE:CHD) Q2 2024 Earnings Conference Call August 02, 2024, 10:00 PM ET Company Participants Matt Farrell - President, Chairman and CEO Rick Dierker - EVP and CFO Conference Call Participants Rupesh Parikh - Oppenheimer Chris Carey - Wells Fargo Bonnie Herzog - Goldman Sachs Peter Grom - UBS Steve Powers - Deutsche Bank Dara Mohsenian - Morgan Stanley Lauren Lieberman - Barclays Kaumil Gajrawala - Jefferies Andrea Teixeira - JPMorgan F ...

Church & Dwight Co., Inc. (CHD) reported second-quarter 2024 results, with the top and the bottom line increasing year over year. Quarterly earnings and net sales surpassed the Zacks Consensus Estimate. Results benefited from strong consumer demand across its portfolio. Yet, management highlighted that category consumption growth, both in dollars and units, has moderated as consumers face financial pressures. In June and July 2024, dollar growth in eight main categories declined to 2% from 4.5% during the f ...

Core Viewpoint - Church & Dwight (CHD) reported quarterly earnings of $0.93 per share, exceeding the Zacks Consensus Estimate of $0.84 per share, and showing a slight increase from $0.92 per share a year ago, indicating a positive earnings surprise of 10.71% [1][2] Financial Performance - The company achieved revenues of $1.51 billion for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 0.21% and reflecting a year-over-year increase from $1.45 billion [2] - Over the last four quarters, Church & Dwight has consistently exceeded consensus EPS estimates [2] Stock Performance - Church & Dwight shares have increased approximately 5.8% since the beginning of the year, while the S&P 500 has gained 14.2%, indicating underperformance relative to the broader market [3] Future Outlook - The company's earnings outlook will be crucial for assessing future stock performance, with current consensus EPS estimates at $0.84 for the upcoming quarter and $3.46 for the current fiscal year [4][7] - The Zacks Rank for Church & Dwight is currently 3 (Hold), suggesting that the shares are expected to perform in line with the market in the near future [6] Industry Context - The Soap and Cleaning Materials industry, to which Church & Dwight belongs, is currently ranked in the top 31% of over 250 Zacks industries, indicating a favorable industry outlook [8]

2024 Second Quarter Results 2024 Full Year Outlook CHURCH & DWIGHT CO., INC. News Release Contact: Rick Dierker Chief Financial Officer 609-806-1200 CHURCH & DWIGHT REPORTS Q2 2024 RESULTS Q2 NET SALES, GROSS MARGIN, EPS AND CASH FLOW EXCEED OUTLOOK RAISES OUTLOOK FOR FULL YEAR GROSS MARGIN, AND CASH FROM OPERATIONS | --- | --- | |--------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------- ...

Church & Dwight., Inc. (CHD) gears up to report its second-quarter fiscal 2024 earnings on Aug 2, before market open. The company is likely to register top-line growth while the bottom line is expected to decrease year over year. The Zacks Consensus Estimate for second-quarter revenues stands at $1,509 million, which indicates an increase of 3.8% from the year-ago quarter's reported figure. CHD boasts a strong earnings surprise record, having surpassed the consensus estimate in each of the last four quarter ...

The current level reflects an upward revision of 0.1% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period. Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies con ...

Church & Dwight (CHD) is expected to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. Revenues are expected to be $1.51 billion, up 3.8% from the year-ago quarter. Estimate revisions ahead of a company's earnings release offer clu ...

Momentum Score The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days. But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from. Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Ra ...

For those looking to find strong Consumer Staples stocks, it is prudent to search for companies in the group that are outperforming their peers. Church & Dwight (CHD) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Consumer Staples peers, we might be able to answer that question. Church & Dwight is one of 185 companies in the Consumer Staples ...