Church & Dwight(US:CHD)2025-09-03 17:30Business Segments & Portfolio - Church & Dwight's domestic segment accounts for 77% of its business, while international contributes 18%, and the Specialty Products Division (SPD) makes up 5%[11] - In 2024, Church & Dwight's total company net sales were approximately $6.1 billion[12] - Approximately 75% of Church & Dwight's sales and profits are represented by 8 power brands[15] - In 2024, Church & Dwight's portfolio was divided into Household (49%), Personal Care (46%), and SPD (5%)[16] - Church & Dwight's product portfolio consists of 36% value products and 64% premium products[18] Brand Performance & Market Share - In the liquid laundry detergent category, Arm & Hammer experienced a 3.4% increase in dollar sales in Q1 2025 and a 3.1% increase in Q2 2025, compared to category growth of 0.2% and 1.4% respectively[45] - Arm & Hammer's liquid laundry dollar share has grown from 5% in 2006 to 14.8% YTD 2025[48] - In the clumping litter category, Arm & Hammer litter saw a 2.1% increase in dollar sales in Q1 2025 and a 4.1% increase in Q2 2025, compared to category growth of 2.3% and 3.4% respectively[57] - Arm & Hammer litter's dollar share has consistently increased from 23.2% in 2020 to 24.7% YTD 2025[59] - Hero acne brand experienced a 13% increase in dollar sales in Q1 2025 and an 11.4% increase in Q2 2025, compared to category declines of -1.2% and growth of 1.7% respectively[65] - Hero's total acne dollar share has grown from 1.2% in 2020 to 21.8% YTD 2025, making it the 1 acne brand[68] - TheraBreath mouthwash experienced a 26.2% increase in dollar sales in Q1 2025 and a 22.5% increase in Q2 2025, compared to category declines of -0.5% and -1.6% respectively[81] - TheraBreath's total mouthwash dollar share has grown from 3.9% in 2020 to 20.7% YTD 2025, achieving an all-time share high and becoming the 2 mouthwash brand[84] - Batiste dry shampoo experienced a -4.9% decrease in dollar sales in Q1 2025 and a -6.9% decrease in Q2 2025, compared to category growth of 2.7% and 6.8% respectively[97] - Batiste's dry shampoo dollar share has grown from 36.7% in 2020 to 41.9% YTD 2025, maintaining its position as the 1 dry shampoo brand[98] Financial Performance & Outlook - The company's evergreen model targets include +4% organic sales growth, +25 to +50 bps gross margin improvement, flat % but higher $ marketing spend, -25 to 0 bps SG&A reduction, +50 bps operating margin improvement, and +8% EPS growth[181] - The company's financial outlook for FY 2025 (as of August 1, 2025) includes 0% to +2% organic sales growth, -60 bps adjusted gross margin, ~11% marketing %, lower adjusted SG&A, ~23% effective tax rate, 0% to +2% adjusted EPS growth, and ~$1.05 billion cash from operations[200] - The company anticipates a ~$190 million impact from tariffs, with ~$50 million in mitigating actions[204] - The company's acquisition power is approximately $5.3 billion[214]