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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Church and Dwight Co Inc | NYSE:CHD | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
1.52 | 1.44% | 106.93 | 107.17 | 105.73 | 106.11 | 972,578 | 22:08:11 |
Delaware
|
1-10585
|
13-4996950
|
||
(State or Other Jurisdiction
of Incorporation)
|
(Commission
File Number)
|
(I.R.S. Employer
Identification No.)
|
500 Charles Ewing Boulevard, Ewing, New Jersey
|
08628
|
|
(Address of Principal Executive Offices)
|
(Zip Code)
|
¨
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
¨
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
¨
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240. 14d-2(b))
|
¨
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
Exhibit
|
|
Description
|
99.1
|
|
Church & Dwight Co., Inc. press release, dated May 7, 2015
|
CHURCH & DWIGHT CO., INC.
|
||||||||
Date:
|
May 7, 2015
|
By:
|
/s/ Matthew T. Farrell
|
|||||
Name:
|
Matthew T. Farrell
|
|||||||
Title:
|
Executive Vice President, Chief Operating Officer and Chief Financial Officer
|
2015 First Quarter Results
· Organic sales growth of 3.6%, Reported growth 3.9%
· Gross Margin expansion of 40 basis points
· Reported EPS growth 9.6%: FX Neutral growth 13.6%
· Cash from Operations $144MM, up 40%
|
2015 Full Year Outlook
· Organic sales growth of approximately 3%
· Gross Margin expansion of 25 to 35 basis points
· EPS growth of 7-9%, excluding pension charge
· Cash from operations, in excess of $570MM
|
Three Months Ended
|
||||||||
(In millions, except per share data)
|
Mar. 31, 2015
|
Mar. 31, 2014
|
||||||
Net Sales
|
$ | 812.3 | $ | 782.0 | ||||
Cost of sales
|
456.8 | 442.6 | ||||||
Gross profit
|
355.5 | 339.4 | ||||||
Marketing expenses
|
88.8 | 87.8 | ||||||
Selling, general and administrative expenses
|
94.6 | 89.6 | ||||||
Income from Operations
|
172.1 | 162.0 | ||||||
Equity in earnings (losses) of affiliates
|
2.3 | 1.6 | ||||||
Other income (expense), net
|
(9.1 | ) | (6.9 | ) | ||||
Income before income taxes
|
165.3 | 156.7 | ||||||
Income taxes
|
58.1 | 54.1 | ||||||
Net Income
|
$ | 107.2 | $ | 102.6 | ||||
Net Income per share - Basic
|
$ | 0.81 | $ | 0.74 | ||||
Net Income per share - Diluted
|
$ | 0.80 | $ | 0.73 | ||||
Dividends per share
|
$ | 0.335 | $ | 0.31 | ||||
Weighted average shares outstanding - Basic
|
132.0 | 138.0 | ||||||
Weighted average shares outstanding - Diluted
|
134.6 | 140.6 |
(Dollars in millions)
|
Mar. 31, 2015
|
Dec. 31, 2014
|
||||||
Assets
|
||||||||
Current Assets
|
||||||||
Cash and Cash Equivalents
|
$ | 299.7 | $ | 423.0 | ||||
Accounts Receivable
|
337.1 | 322.9 | ||||||
Inventories
|
256.8 | 245.9 | ||||||
Other Current Assets
|
38.4 | 40.7 | ||||||
Total Current Assets
|
932.0 | 1,032.5 | ||||||
Property, Plant and Equipment (Net)
|
617.8 | 616.2 | ||||||
Equity Investment in Affiliates
|
24.9 | 24.8 | ||||||
Tradenames and Other Intangibles
|
1,299.6 | 1,272.4 | ||||||
Goodwill
|
1,354.6 | 1,325.0 | ||||||
Other Long-Term Assets
|
115.8 | 110.4 | ||||||
Total Assets
|
$ | 4,344.7 | $ | 4,381.3 | ||||
Liabilities and Stockholders’ Equity
|
||||||||
Short-Term Debt
|
$ | 273.4 | $ | 146.7 | ||||
Current portion of Long-Term debt
|
249.9 | 249.9 | ||||||
Other Current Liabilities
|
527.1 | 508.7 | ||||||
Total Current Liabilities
|
1,050.4 | 905.3 | ||||||
Long-Term Debt
|
703.5 | 698.6 | ||||||
Other Long-Term Liabilities
|
682.1 | 675.5 | ||||||
Stockholders’ Equity
|
1,908.7 | 2,101.9 | ||||||
Total Liabilities and Stockholders’ Equity
|
$ | 4,344.7 | $ | 4,381.3 |
Three Months Ended
|
||||||||
(Dollars in millions)
|
Mar. 31, 2015
|
Mar. 31, 2014
|
||||||
Net Income
|
$ | 107.2 | $ | 102.6 | ||||
Depreciation and amortization
|
26.0 | 22.8 | ||||||
Deferred income taxes
|
6.0 | 5.2 | ||||||
Non cash compensation
|
1.7 | 2.3 | ||||||
Other
|
3.9 | 1.5 | ||||||
Changes in assets and liabilities:
|
||||||||
Accounts receivable
|
(22.0 | ) | (13.8 | ) | ||||
Inventories
|
(15.2 | ) | (14.3 | ) | ||||
Other current assets
|
(1.3 | ) | (2.7 | ) | ||||
Accounts payable and accrued expenses
|
(2.5 | ) | (27.7 | ) | ||||
Income taxes payable
|
48.3 | 37.1 | ||||||
Excess tax benefit on stock options exercised
|
(8.0 | ) | (6.1 | ) | ||||
Other
|
0.1 | (4.5 | ) | |||||
Net cash from operating activities
|
144.2 | 102.4 | ||||||
Capital expenditures
|
(21.9 | ) | (6.3 | ) | ||||
Acquisition
|
(74.9 | ) |
-
|
|||||
Other
|
(1.1 | ) | (0.3 | ) | ||||
Net cash (used in) investing activities
|
(97.9 | ) | (6.6 | ) | ||||
Net change in short-term debt
|
127.1 | (0.5 | ) | |||||
Payment of cash dividends
|
(43.7 | ) | (42.5 | ) | ||||
Stock option related
|
19.3 | 13.3 | ||||||
Purchase of treasury stock
|
(256.2 | ) | (260.0 | ) | ||||
Other
|
(0.4 | ) | (0.2 | ) | ||||
Net cash (used in) financing activities
|
(153.9 | ) | (289.9 | ) | ||||
F/X impact on cash
|
(15.7 | ) | (2.8 | ) | ||||
Net change in cash and cash equivalents
|
$ | (123.3 | ) | $ | (196.9 | ) | ||
Three Months Ended
|
Percent
|
|||||||||||
3/31/2015
|
3/31/2014
|
Change
|
||||||||||
Household Products
|
$ | 366.5 | $ | 352.5 | 4.0 | % | ||||||
Personal Care Products
|
248.1 | 240.8 | 3.0 | % | ||||||||
Consumer Domestic
|
$ | 614.6 | $ | 593.3 | 3.6 | % | ||||||
Consumer International
|
120.4 | 123.8 | -2.8 | % | ||||||||
Total Consumer Net Sales
|
$ | 735.0 | $ | 717.1 | 2.5 | % | ||||||
Specialty Products Division
|
77.3 | 64.9 | 19.2 | % | ||||||||
Total Net Sales
|
$ | 812.3 | $ | 782.0 | 3.9 | % |
Organic Sales
|
|||||||||
Three Months Ended 3/31/2015
|
|||||||||
Total
|
Worldwide
|
Consumer
|
Consumer
|
Specialty
|
|||||
Company
|
Consumer
|
Domestic
|
International
|
Products
|
|||||
Reported Sales Growth
|
3.9%
|
2.5%
|
3.6%
|
-2.8%
|
19.2%
|
||||
Less:
|
|||||||||
Acquisitions
|
2.5%
|
1.8%
|
1.8%
|
1.4%
|
10.4%
|
||||
|
|
||||||||
Add:
|
|||||||||
FX / Other
|
2.2%
|
2.2%
|
-0.2%
|
13.7%
|
2.0%
|
||||
Organic Sales Growth
|
3.6%
|
2.9%
|
1.6%
|
9.5%
|
10.8%
|
1 Year Church and Dwight Chart |
1 Month Church and Dwight Chart |
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