Church & Dwight Beats Q3 Expectations

reported better-than-expected results for the third quarter. The Ewing, New Jersey-based company posted a quarterly profit of $120.4 million, or $0.90 per share, versus a year-ago profit of $115.9 million, or $0.85 per share, in the year-ago quarter. Its revenue surged 2.4 percent to $861.8 million. Analysts were expecting earnings of $0.89 per share on revenue of $858 million. The average estimate among 12 Estimize users was for earnings of $0.90 per share on revenue of $860.64 million. Its sales of specialty products climbed 2.9 percent to $80.7 million, while consumer domestic sales climbed 4.7 percent to $656.4 million. Consumer international sales dropped 8.4 percent to $124.7 million. Gross margin expanded 110 basis points to 44.8 percent from 43.7 percent. At September 30, 2015, cash on hand was $211 million, and total debt was $981 million. James Craigie, Chairman and Chief Executive Officer, said, "We are extremely pleased with the sales and earnings growth in the third quarter. Our strong organic growth was driven by innovative new products launched in all of our major categories as we believe that innovation is the key to increasing our market share and reviving category growth in this challenging economy." Church & Dwight expects Q4 earnings of $0.79 to $0.81 per share, versus analysts' estimates of $0.85 per share. The company projects FY earnings of $3.22 to $3.24 per share, versus analysts' expectations of $3.25 per share. Church & Dwight shares fell 0.44 percent to close at $86.09 on Friday.