By Anna Prior
Church & Dwight Co.'s (CHD) first-quarter earnings rose 12%
as the consumer products maker reported a jump in revenue and
improving margins, helping results beat estimates.
The maker of Arm & Hammer products and Trojan condoms has
had improved sales for more than two years as its value-focused
portfolio of products attracted frugal consumers. But Church &
Dwight continues to be challenged by persistent economic
uncertainties and heightened price competition from such rivals as
Procter & Gamble Co. (PG).
For the current quarter, the company said it expects per-share
earnings of 58 cents, while analysts polled by Thomson Reuters were
recently looking for earnings of 64 cents a share. Church &
Dwight reiterated its 2013 earnings guidance.
Church & Dwight reported a profit of $107.7 million, or 76
cents a share, up from $95.8 million, or 66 cents, a year earlier.
The company's February estimate was for an 8% increase in per-share
earnings compared with the prior year, or roughly 71 cents a
share.
Sales rose 13% to $779.3 million, topping the $776.6 million
forecast from analysts polled by Thomson Reuters. Organic sales
increased 2%, driven by 2.4% volume growth and partially offset by
0.4% unfavorable product mix and pricing.
Gross margin widened to 44.9% from 43.8%.
Consumer domestic sales rose 16% to $591 million while consumer
international sales rose 6.5% to $129.3 million. Sales of specialty
products rose 0.7% to $59 million.
Shares closed Wednesday at $62.90 and were inactive premarket.
The stock is up 23% in the last 12 months.
Write to Anna Prior at anna.prior@dowjones.com
Order free Annual Report for Procter & Gamble Co.
Visit http://djnewswires.ar.wilink.com/?link=PG or call
1-888-301-0513
Order free Annual Report for Church & Dwight Co., Inc.
Visit http://djnweurope.ar.wilink.com/?ticker=US1713401024 or
call +44 (0)208 391 6028
Order free Annual Report for Procter & Gamble Co.
Visit http://djnweurope.ar.wilink.com/?ticker=US7427181091 or
call +44 (0)208 391 6028
Subscribe to WSJ: http://online.wsj.com?mod=djnwires