Church & Dwight Ups Earnings Outlook After Profit Jumps

Dow Jones05-02

By Dean Seal

Church & Dwight gave a slight bump to its earnings outlook for the year after its first-quarter profit jumped on stronger gross margin.

The consumer-goods company behind brands including Arm & Hammer and Trojan posted a profit of $227.7 million, or 93 cents a share, compared with $203.2 million, or 82 cents a share, in the same quarter a year ago.

Stripping out one-time items, adjusted earnings came in at 96 cents a share. Analysts surveyed by FactSet had been expecting 87 cents a share.

Quarterly revenue rose to $1.51 billion from $1.43 billion last year, above analyst projections for $1.49 billion, according to FactSet.

The Ewing, N.J.-based company is still expecting sales to rise 4% to 5% this year and said it now expects adjusted earnings to rise 8% to 9%, lifting the low end of its previous guidance by a percentage point.

The revision was driven by the company's expectation for more gross margin expansion as higher carryover product prices, mix, volumes and productivity offset higher manufacturing costs.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

May 02, 2024 07:17 ET (11:17 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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