church & dwight co inc (CHD) Key Developments
Church & Dwight Co. Inc. Presents at Deutsche Bank db Access Global Consumer Conference 2015, Jun-09-2015 11:15 AM
Jun 1 15
Church & Dwight Co. Inc. Presents at Deutsche Bank db Access Global Consumer Conference 2015, Jun-09-2015 11:15 AM. Venue: Paris, France.
Church & Dwight Co. Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Second Quarter and Full Year of 2015
May 7 15
Church & Dwight Co. Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, net sales were $812.3 million compared to $782.0 million a year ago. Income from operations was $172.1 million compared to $162.0 million a year ago. Income before income taxes was $165.3 million compared to $156.7 million a year ago. Net income was $107.2 million or $0.80 diluted per share compared to $102.6 million or $0.73 diluted per share a year ago. Net cash from operating activities was $144.2 million compared to $102.4 million a year ago. Capital expenditures were $21.9 million compared to $6.3 million a year ago.
For the second quarter, the company expects organic sales growth of 3.6%, reported growth 3.9%. Reported EPS growth 9.6% and FX Neutral growth 13.6%. The company expects organic sales growth of approximately 3 to 4%. Gross margin is expected to be flat versus year ago as continue to invest behind OXICLEAN, experience unfavorable currency impacts, and absorb incremental costs for new gummy vitamin manufacturing facility. The company expects second quarter earnings per share to increase 8% to approximately $0.70, excluding the $0.05 pension termination charge. The company expects second quarter earnings per share of approximately $0.70 compared to $0.65 last year.
For the year, expect organic sales growth of approximately 3% in 2015 behind new product introductions on core business. The company expects gross margin to expand by approximately 25 to 35 basis points (previously 25 basis points) from reduced slotting fees, lower trade spending as pricing competition in the value laundry category has begun to normalize, and expected lower commodity costs in the second half of 2015. The company intends to continue to heavily invest in the OXICLEAN brand as 2015 will mark the second year of quest to establish it as next megabrand across multiple categories. Marketing spending is expected to be approximately 12.5% of sales, comparable to the 2014 and 2013 rate of investment. To the extent the company over-delivers on gross margin expansion, the company expects to incrementally invest in marketing spending behind mega brands. The company expects to achieve approximately 50 to 60 basis points of operating margin expansion, excluding a previously disclosed pension termination charge, or operating margin expansion of 25 to 35 basis points on a reported basis. The company continues to expect the full year effective tax rate to be approximately 34.5%. The company expects to spend approximately $70 million on a full year basis on CapEx in 2015. Cash from operations is expected to exceed $570 million and free cash flow to exceed $500 million.
Church & Dwight Co. Inc. Announces Executive Changes
May 7 15
The Board of Directors of Church & Dwight Co. Inc. announced that, effective January 1, 2016, James R. Craigie will retire from the position of Chief Executive Officer. He will continue serving as non-executive Chairman and a member of the board. Matthew T. Farrell, the Chief Operating Officer and Chief Financial Officer, will be promoted to Chief Executive Officer and elected to the company’s Board of Directors. Matt Farrell has been Chief Financial Officer since he joined the company in 2006 and has held the position of Chief Operating Officer since November 2014.
Church & Dwight Mulls Acquisitions
May 7 15
Church & Dwight Co. Inc. (NYSE:CHD) plans to make acquisitions. "I am honored to have the opportunity to lead this great company and continue our strategy of creating shareholder value through innovation and accretive acquisitions," Matthew T. Farrell, Chief Operating Officer and Chief Financial Officer of the company said. He will be promoted to Chief Executive Officer and elected to the company's Board of Directors.
Church & Dwight Co., Inc. Declares Regular Quarterly Dividend, Payable on June 1, 2015
May 6 15
Church & Dwight Co. Inc. reported that its board of directors declared a regular quarterly dividend of 0.335 cents per share. This quarterly dividend will be payable June 1, 2015 to stockholders of record at the close of business on May 18, 2015.