Church & Dwight Co., Inc. (NYSE: CHD) has reported its fourth quarter and full year 2024 results, exceeding its outlook with stronger than expected sales growth. The full year 2024 net sales increased by 4.1% to $6,107.1 million, surpassing the company’s outlook of approximately 3.5% growth. The company also announced a 4% increase in its quarterly dividend, raising the annual dividend payout to approximately $287 million.
In the fourth quarter of 2024, net sales were $1,582.0 million, a 3.5% increase compared to the same period in 2023. Organic sales for the quarter increased by 4.2%, surpassing the company’s outlook of 2% to 3%.
For the full year, the company reported a 4.1% increase in net sales, with organic sales growing by 4.6%. Adjusted gross margin expanded by 110 basis points, and cash from operations reached $1.156 billion.
The reported earnings per share (EPS) for the full year 2024 was $2.37, a decrease of 22.3% compared to 2023, primarily due to non-cash asset impairment charges in the vitamin business. However, the full year 2024 adjusted EPS was $3.44, an increase of 8.5% compared to the previous year.
The company’s CEO, Matthew Farrell, attributed the strong results to the strength of their brands, the success of new products, and continued focus on execution. He highlighted that marketing as a percentage of sales increased by 50 basis points, driving consumption and share gains. Global online sales grew to 21.4% of total consumer sales in 2024.
Looking ahead to 2025, the company expects reported sales growth of approximately 2.5% to 3.5% and volume-driven organic sales growth of approximately 3-4%. The full year gross margin is expected to expand by approximately 25 basis points versus 2024. The company also anticipates strong cash generation in 2025, with an expected cash flow from operations of approximately $1.15 billion.
In terms of new product launches, the company has several innovative offerings planned for 2025, including new variants of laundry detergent, dry shampoo, and body care products, as well as a renovation across its core multivitamin line.
The company will host a webcast to discuss its fourth quarter and year-end 2024 results on January 31, 2025, at 12:00 p.m. (ET), which will be broadcast online. As a result of these announcements, the company's shares have moved -2.1% on the market, and are now trading at a price of $104.91. For more information, read the company's full 8-K submission here.
