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Church & Dwight Reports Q4 Earnings Above Street View; Hikes Dividend

Shivani Kumaresan
·2 min read

  • Church & Dwight Co Inc (NYSE: CHD) reported fourth-quarter FY22 sales growth of 5% year-on-year to $1.44 billion, beating the consensus of $1.40 billion.

  • Organic sales increased 0.4%, driven by 4.2% positive price and product mix offset by 3.8% lower volume.

  • Net sales from Consumer Domestic increased 7.6% Y/Y, Consumer International fell 4.4%, and Specialty Products slipped 1.3%.

  • Adjusted EPS of $0.62 beat the analyst consensus of $0.60.

  • The gross margin compressed 50 basis points Y/Y to 42% due to the impact of higher manufacturing costs, net of pricing and productivity.

  • The operating loss for the quarter was $(198.4) million compared to an income of $176.4 million last year.

  • The company held $270.3 million in cash and equivalents as of Dec. 31, 2022. Net cash provided by operating activities for the year totaled $885.2 million.

  • The company's Board declared a 4% increase in the quarterly dividend from $0.2625 to $0.2725 per share, payable Mar. 1, 2023, to stockholders of record on Feb. 15, 2023.

  • Outlook: Church & Dwight sees Q1 adjusted EPS of $0.75 versus an estimate of $0.79. It expects Q1 sales growth of 4%.

  • In 2023, CHD expects reported sales growth to be approximately 5-7%, with organic sales growth of approximately 2-4%. Adjusted EPS expectation for 2023 is 0-4% growth.

  • Price Action: CHD shares are trading higher by 2.12% at $81.50 on the last check Friday.

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This article Church & Dwight Reports Q4 Earnings Above Street View; Hikes Dividend originally appeared on Benzinga.com

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© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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