Church & Dwight, the consumer-products company known for brands like Arm & Hammer, has announced a profitable fourth quarter and has provided a positive sales outlook for 2024. The company’s revenue received a boost from higher prices and increased volumes.
In the fourth quarter, Church & Dwight reported earnings of $153.7 million, or 62 cents per share, compared to a loss of $164.7 million, or 67 cents per share, in the same period the previous year. It’s worth noting that the prior-year quarter included an impairment charge of $411 million.
Adjusted earnings of 65 cents per share met the average analyst target as per FactSet. The company’s sales saw a growth of 6.4% to reach $1.53 billion, surpassing the average analyst forecast of $1.51 billion.
Church & Dwight acknowledged that the Megalac dairy-supplement product line within its animal nutrition unit had affected sales growth and announced plans to discontinue its dairy-supplement operations in the first quarter. On the positive side, the recently acquired Therabreath mouthwash and Hero acne-care business lines experienced strong demand, and further growth is expected for these brands in 2024.
Looking ahead, Church & Dwight has projected organic sales growth, excluding foreign exchange impact and the Megalac supplement business, to be in the range of 4% to 5% for 2024. In 2023, the company’s sales reached $5.87 billion, up 9% from the previous year, driven by higher prices and increased volumes.
Overall, Church & Dwight’s strong performance in Q4 and positive sales forecast indicate a promising outlook for the company’s future.