Church & Dwight Co Inc. (NYSE:CHD) reported net income above Wall Street?s expectations for the third quarter. Church & Dwight develops, manufactures, and markets a broad range of household, personal care, and specialty products. The company focuses its marketing efforts mainly on its eight power brands.
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Church & Dwight Co Inc. Earnings Cheat Sheet
Results: Net income for Church & Dwight Co Inc. rose to $93.9 million (66 cents per share) vs. $79.6 million (54 cents per share) in the same quarter a year earlier. This marks a rise of 18% from the year-earlier quarter.
Revenue: Rose 3.5% to $725.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Church & Dwight Co Inc. beat the mean analyst estimate of 59 cents per share. It beat the average revenue estimate of $673 million.
Quoting Management: James R. Craigie, Chairman and Chief Executive Officer, commented, ?We are very pleased with our third quarter business results in what continues to be a difficult economic environment. The organic sales increase of 4.6% reflects strong consumer demand for our products. Despite continuing weak category consumption in the U.S., we increased market share on our four largest brands in the quarter, representing over 70% of our volume. In fact we achieved all-time high quarterly market shares on ARM & HAMMER liquid laundry detergent, XTRA liquid laundry detergent and TROJAN condoms.?
Key Stats:
The company has now topped analyst estimates for the last four quarters. It beat the mark by one cent in the second quarter, by 5 cents in the first quarter, and by 2 cents in the fourth quarter of the last fiscal year.
Revenue has risen for the last four quarters. Revenue increased 3.2% to $696.4 million in the second quarter. The figure rose 7.5% in the first quarter from the year earlier and climbed 11.3% in the fourth quarter of the last fiscal year from the year-ago quarter.
Margins were up in the second quarter, following a drop in the previous quarter. Gross margin grew one percentage point from the year-earlier quarter to 45.2%. In the first quarter, the figure rose 0.9 percentage point to 43.5% from the year earlier quarter.
The increase in profit last quarter comes after net income fell in the previous quarter. In the second quarter, net income declined 4% to $79.3 million.
Looking Forward: For the next quarter, analysts are growing pessimistic about the company?s expected results. The average estimate for the fourth quarter is 60 cents per share, dropping from 61 cents a month ago. For the fiscal year, the average estimate has moved down from $2.43 a share to $2.41 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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