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- Church & Dwight Co Inc 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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