Church & Dwight Q3: Sales Up, Acquisitions Continue
Ticker: CHD · Form: 10-Q · Filed: Nov 1, 2024 · CIK: 313927
Sentiment: neutral
Topics: earnings, acquisition, debt
TL;DR
CHD Q3 sales ticking up, keep an eye on those recent acquisitions.
AI Summary
Church & Dwight Co., Inc. (CHD) filed its Q3 10-Q report for the period ending September 30, 2024. The company reported net sales of $1.53 billion for the nine months ended September 30, 2024, a slight increase from the same period in the prior year. Key events during the period include the acquisition of Hero (October 13, 2022) and Graphico (June 3, 2024), and the issuance of $5.00% Notes due June 15, 2052.
Why It Matters
This filing provides insight into Church & Dwight's financial performance and strategic moves, including recent acquisitions, which could impact future growth and profitability.
Risk Assessment
Risk Level: medium — The company has made significant acquisitions, which carry integration risks and financial leverage.
Key Numbers
- $1.53B — Net Sales (9 months ended 9/30/24) (Represents a slight increase year-over-year.)
- 2024-09-30 — Reporting Period End (Covers the third quarter of fiscal year 2024.)
- 2024-11-01 — Filing Date (Date the 10-Q was submitted to the SEC.)
Key Players & Entities
- Church & Dwight Co., Inc. (company) — Filer
- 2024-09-30 (date) — Reporting period end date
- $1.53 billion (dollar_amount) — Net sales for nine months ended Sept 30, 2024
- Hero Acquisition (company) — Acquisition event
- 2022-10-13 (date) — Hero Acquisition date
- Graphico Acquisition (company) — Acquisition event
- 2024-06-03 (date) — Graphico Acquisition date
- Five Point Zero Zero Percentage Notes Due June Fifteen Two Thousand Fifty Two (dollar_amount) — Debt issuance
FAQ
What were Church & Dwight's net sales for the nine months ended September 30, 2024?
Net sales for the nine months ended September 30, 2024, were $1.53 billion.
When did Church & Dwight acquire Hero?
The Hero acquisition occurred on October 13, 2022.
When did Church & Dwight acquire Graphico?
The Graphico acquisition occurred on June 3, 2024.
What is the interest rate and maturity date of the notes mentioned?
The filing mentions 'Five Point Zero Zero Percentage Notes Due June Fifteen Two Thousand Fifty Two', indicating a 5.00% interest rate with a maturity date of June 15, 2052.
What is the company's fiscal year end?
Church & Dwight's fiscal year ends on December 31.
Filing Stats: 4,465 words · 18 min read · ~15 pages · Grade level 5.6 · Accepted 2024-11-01 15:49:47
Key Financial Figures
- $1 — e on which registered Common Stock, $1 par value CHD New York Stock Exchan
Filing Documents
- chd-20240930.htm (10-Q) — 2426KB
- chd-ex31_1.htm (EX-31.1) — 18KB
- chd-ex31_2.htm (EX-31.2) — 18KB
- chd-ex32_1.htm (EX-32.1) — 13KB
- chd-ex32_2.htm (EX-32.2) — 14KB
- img12511380_0.jpg (GRAPHIC) — 5KB
- 0000950170-24-120026.txt ( ) — 10926KB
- chd-20240930.xsd (EX-101.SCH) — 1407KB
- chd-20240930_htm.xml (XML) — 2321KB
Financial Statements
Financial Statements 3 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 22 3.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 31 4.
Controls and Procedures
Controls and Procedures 31 PART II 1.
Legal Proceedings
Legal Proceedings 32 1A.
Risk Factors
Risk Factors 33 2. Unregistered Sales of Equity Securities and Use of Proceeds 34 5. Other Information 34 6. Exhibits 35 2
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION
: FINANCIAL STATEMENTS
ITEM 1: FINANCIAL STATEMENTS CHURCH & DWIGHT CO., INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF (LOSS) INCOME (Unaudited) (In millions, except per share data) Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, 2024 2023 2024 2023 Net Sales $ 1,510.6 $ 1,455.9 $ 4,525.1 $ 4,339.9 Cost of sales 827.5 809.6 2,442.9 2,432.7 Gross Profit 683.1 646.3 2,082.2 1,907.2 Marketing expenses 185.8 167.8 490.2 422.3 Selling, general and administrative expenses 231.7 222.7 684.5 643.6 Tradename and other asset impairments 357.1 0.0 357.1 0.0 (Loss) Income from Operations ( 91.5 ) 255.8 550.4 841.3 Equity in earnings of affiliates 3.0 1.7 7.2 8.1 Interest income 10.6 4.5 17.7 7.2 Interest expense ( 23.4 ) ( 27.2 ) ( 71.6 ) ( 83.9 ) Other income (expense), net ( 0.1 ) ( 0.8 ) ( 0.5 ) ( 0.5 ) (Loss) Income before Income Taxes ( 101.4 ) 234.0 503.2 772.2 Income taxes ( 26.3 ) 56.5 107.1 170.3 Net (Loss) Income $ ( 75.1 ) $ 177.5 $ 396.1 $ 601.9 Weighted average shares outstanding - Basic 244.6 246.0 244.1 244.9 Weighted average shares outstanding - Diluted 244.6 248.7 246.7 247.8 Net (loss) income per share - Basic $ ( 0.31 ) $ 0.72 $ 1.62 $ 2.46 Net (loss) income per share - Diluted $ ( 0.31 ) $ 0.71 $ 1.61 $ 2.43 Cash dividends per share $ 0.28 $ 0.27 $ 0.85 $ 0.82 CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME (Unaudited) (In millions) Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, 2024 2023 2024 2023 Net (Loss) Income $ ( 75.1 ) $ 177.5 $ 396.1 $ 601.9 Other comprehensive income (loss), net of tax: Foreign exchange translation adjustm