Church & Dwight Co., Inc. (NYSE: CHD) reported higher earnings and revenues for the second quarter of 2023. The company also provided an outlook for fiscal 2023.
- Second-quarter net sales increased 9.7% year-over-year to $1.45 billion, with domestic and international sales growing 12.3% and 4.9% respectively
- Specialty products net sales were $84.1 million, which marks a $5.8 million or 6.5% decrease versus the prior year
- Earnings, including special items, increased 17% to $0.89 per share in Q2; adjusted earnings climbed 21.1% to $0.92 per share
- Gross margin increased 270 basis points to 43.9% due to improved pricing, productivity, and the impact of the HERO acquisition
- For fiscal 2023, the management expects net sales to increase by about 8% from last year, and organic sales approximately 5%
- The guidance for full-year earnings growth is around 80%, while adjusted EPS is expected to grow 6%