Church & Dwight Expands Gross Margin Despite Transportation Cost Pressures
Dow Jones10-31 00:48
1247 ET - Church & Dwight's stronger gross margins helped offset higher global transportation rates and inflationary pressures. Gross margins expanded 170 basis points to 46.8% in 3Q thanks to higher volume, manufacturing productivity, tariff refunds and a favorable mix from acquisitions. "While there are growing inflationary pressures related to the Middle East conflict and transportation rates are increasing globally, the Company is confident it can continue to mitigate this cost pressure," CEO Rick Dierker says. The company now sees full-year adjusted gross margin expanding by approximately 100 basis points, inclusive of those incrementally higher transportation costs.
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