church & dwight co inc (CHD) Key Developments
Church & Dwight Co. Inc. Presents at UBS Global Consumer Conference 2015, Mar-04-2015
Feb 9 15
Church & Dwight Co. Inc. Presents at UBS Global Consumer Conference 2015, Mar-04-2015 . Venue: Four Seasons Hotel Boston, 200 Boylston Street, Boston, Massachusetts, United States. Speakers: James R. Craigie, Executive Chairman, Chief Executive Officer and Chairman of Executive Committee, Matthew Thomas Farrell, Chief Operating Officer, Chief Financial Officer and Executive Vice President of Finance, Rick Dierker, Vice President of Corporate Finance.
Church & Dwight Co., Inc. Declares Quarterly Dividend, Payable on March 2, 2015; Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the Full Year of 2015
Feb 3 15
Church & Dwight Co. Inc. announced that on January 29, 2015, the company's Board of Directors declared an 8% increase in the regular quarterly dividend from $0.31 to $0.335 per share, equivalent to an annual dividend of $1.34 per share. The decision raises the dividend payout from $168 million to approximately $177 million. The quarterly dividend will be payable March 2, 2015 to stockholders of record at the close of business on February 10, 2015.
The company reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported income from operations of $163.8 million, income before income taxes of $160.0 million, net income of $106.6 million or $0.78 diluted per share on net sales of $865.5 million against income from operations of $144.6 million, income before income taxes of $139.2 million, net income of $92.2 million or $0.65 diluted per share on net sales of $822.6 million for the same period a year ago.
For the year, the company reported income from operations of $641.2 million, income before income taxes of $624.9 million, net income of $413.9 million or $3.01 diluted per share on net sales of $3,297.6 million against income from operations of $622.2 million, income before income taxes of $597.8 million, net income of $394.4 million or $2.79 diluted per share on net sales of $3,194.3 million for the same period a year ago. Net cash from operating activities was $540.3 million against $499.6 million for the same period a year ago. Capital expenditures were $70.5 million against $67.1 million for the same period a year ago.
The company provided earnings guidance for the full year of 2015. The company expects organic sales growth of approximately 2-3% in 2015 behind new product introductions on core business. The company expects gross margin to expand by approximately 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 expects to achieve 5-7% reported EPS growth in 2015 or 7-9% excluding a previously disclosed pension termination charge of approximately $0.05. The midpoint of 2015 outlook equates to 10.5% currency neutral EPS growth excluding an estimated 2.5% EPS negative impact from foreign exchange.
Church & Dwight Seeks Acquisitions
Feb 3 15
Church & Dwight Co. Inc. (NYSE:CHD) is looking for acquisition opportunities. Our robust cash flow enables us to deliver higher value directly to our stockholders while maintaining significant financial flexibility to continue to aggressively pursue acquisitions," said James R. Craigie, Chairman and Chief Executive Officer of Church & Dwight.
Church & Dwight Co. Inc. Presents at Consumer Analyst Group of New York Conference, Feb-20-2015 07:00 AM
Feb 1 15
Church & Dwight Co. Inc. Presents at Consumer Analyst Group of New York Conference, Feb-20-2015 07:00 AM. Venue: Boca Raton Resort & Club, New York, New York, United States.
Church & Dwight Co., Inc. Executes Credit Agreement
Dec 22 14
On December 19, 2014, Church & Dwight Co. Inc. executed a Credit Agreement among the company, the initial lenders named therein and Bank of America, N.A., as administrative agent. The credit agreement replaced the company's prior credit facility and provides for a $600 million unsecured revolving credit facility. The company has the ability to increase the size of the facility by up to an additional $500 million, subject to certain conditions, including the receipt of additional commitments from lenders. Unless extended, the credit agreement will terminate and all amounts outstanding under the Credit Agreement will be due and payable on December 19, 2019. Interest on the company's borrowings under the credit agreement will accrue at a per annum rate equal to the sum of (x) either (at the Company's option) (i) the adjusted LIBOR rate (generally, the LIBOR rate for an interest period selected by the company and adjusted for statutory reserves) or (ii) the Base Rate (generally equal to the high of (a) the Federal Funds Rate plus 0.50%, (b) Bank of America's prime rate and (c) the adjusted LIBOR rate for an interest period of one month plus 1.00%) plus (y) the applicable margin. The applicable margin is determined based upon the corporate credit rating of the company and ranges from 0.875% to 1.75% per annum, in the case of any borrowing bearing interest by reference to the adjusted LIBOR rate, and 0% to 0.75%, in the case of any borrowing bearing interest by reference to the Base Rate. In addition, the company will bear certain customary fees, including a commitment fee, determined based upon the corporate credit rating of the company and ranging from 0.075% to 0.25% per annum on the aggregate unused commitments under the credit agreement, and additional issuance fees and participation fees in respect of any letters of credit issued under the credit agreement. The credit agreement contains customary affirmative and negative covenants, including restrictions on the following: liens, investments, subsidiary indebtedness, fundamental changes, asset dispositions, changes in the nature of the business, affiliate transactions, burdensome agreements and use of proceeds.