Consumer goods company Church & Dwight Co., Inc. (NYSE: CHD) reported higher adjusted earnings and revenues for the second quarter of 2024. The company also provided guidance for fiscal 2024.
- Second-quarter sales increased by 3.9% annually to $1.51 billion: domestic sales rose 3.8% and international sales increased by 9%
- There was a 4.7% growth in organic sales; domestic and international organic sales grew 3.8% and 9.3%, respectively
- Q2 net income increased to $243.5 million or $0.99 per share from $221.2 million or $0.89 per share last year
- Adjusted earnings increased to $0.93 per share in Q2 from $0.92 per share in the year-ago period
- For fiscal 2024, the management expects net sales to grow 3.5% year-over-year and organic sales to rise 4.0%
- Adjusted gross margin is expected to expand between 100 and 110 bps in fiscal 2024
- Full-year earnings per share is expected to grow 12-13%, and adjusted earnings per share to be up 8-9%
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