The following is a summary of the Church & Dwight Co., Inc. (CHD) Q1 2024 Earnings Call Transcript:
Financial Performance:
Church & Dwight reported Q1 sales growth of 5.1% and organic sales growth of 5.2%.
Adjusted EPS for Q1 was $0.96, exceeding the projected $0.85.
Gross margin expanded 220 basis points, driven by higher sales and productivity.
Online sales make up 20.5% of the company's global sales.
The effective tax rate for the quarter was 19.9%, a decrease due to high stock option exercise levels.
Cash from operating activities increased to $263 million.
The company anticipates full-year EPS growth to be in the range of 8% to 9%.
Business Progress:
The company has signed an agreement to acquire its Japanese distributor, Graphico, indicating expansion in Japan and the APAC region.
Church & Dwight's Batiste and Therabreath brands showed strong growth in Q1.
The company is also focusing on capacity expansion projects for business growth.
Despite challenges such as slow retailer reorders, Church & Dwight expects to keep its business outlook for the year optimistic.
The company has completed an acquisition in Japan to serve as a base for future growth in Southeast Asia.
They are planning on launching HERO in 40 countries by 2024 and are exploring further acquisitions.
More details: Church & Dwight IR
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