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Church & Dwight Delivers Strong Third Quarter Results

CHD
  • Church & Dwight Co., Inc. reported third-quarter 2026 net sales of $1.602 billion, a 1.0% increase year-over-year, exceeding the prior outlook of a 1% decline.
  • Organic sales growth for the quarter reached 5.1%, driven by domestic growth of 4.4%, international growth of 7.8%, and Specialty Products growth of 5.0%.
  • Gross margin expanded 170 basis points to 46.8%, supported by higher volume, productivity, tariff refunds, and favorable mix.
  • Reported earnings per share (EPS) were $0.89, while adjusted EPS was $0.92, representing a 13.6% increase compared to the prior year.
  • Cash from operations for the third quarter totaled $380 million, with full-year 2026 cash from operations expected at approximately $1.175 billion.
  • The company raised its 2026 full-year net sales outlook to approximately +0.5% growth and increased organic sales growth expectations to approximately +5%.
  • Full-year adjusted EPS growth for 2026 is now projected at approximately 7%, tightening the previous range of 6% to 8%, while reported EPS is expected to grow by 20%.
  • A new $1 billion share repurchase program with no expiration date was approved to replace the existing authorization.
  • Global e-commerce revenues grew 20% in the third quarter, now accounting for 25.9% of total consumer sales.
  • New product launches in 2026 included THERABREATH™ oral care variants, ARM & HAMMER™ DUAL DEFENSE™ cat litter, OXICLEAN™ MAX FORCE, and HERO™ acne cleansers.
  • Marketing expenses decreased to 11.9% of net sales, while adjusted SG&A increased to 16.3% of net sales due to acquisition-related amortization and higher incentive compensation.
  • The company expects a fourth-quarter reported sales decline of approximately 0.5% driven by 2025 strategic portfolio actions, with organic sales growth projected at 4.0%.
  • Total debt stood at $2.2 billion with $447 million in cash-on-hand as of September 30, 2026.
  • Capital expenditures for the first nine months of 2026 were $92 million, with a full-year expectation of approximately $125 million.