Church & Dwight Reports Q3 Beat, Provides Guidance

Church & Dwight (NYSE:CHD) reported its Q3 results, with EPS of $0.76 coming in better than the Street estimate of $0.65. Revenue was $1.32 billion, compared to the Street estimate of $1.3 billion.

The company expects fiscal 2022 EPS to be in the range of $2.93-$2.97, compared to the Street estimate of $2.97. According to the analysts at RBC Capital, Q3 was a mixed quarter, with continued softness in the personal care business (discretionary brands/VMS) partially mitigated by Household strength. Personal care issues delay organic/margin recovery and bring numbers lower but household performance is impressive helped by the macro environment.

The analysts slightly raised their 2022 organic growth estimate to 1.1% (from 0.2%) and lowered their EPS estimate to $2.95. They maintained the Sector Perform rating, but lowered their price target on the company’s shares to $85 from $90.