Higher Raw Material and Transportation Costs Eating Into No-Moat Church & Dwight's Profits
For the second quarter in a row, Church & Dwight boasted positive price and favorable mix (to the tune of 1.6% in combination), which led to organic sales gains of 4.3%. However, this did little to quell concerns surrounding profitability--gross margins sank 250 basis points to 44.1%, as inflationary headwinds, tariff pressures, and higher compensation offset the benefits from productivity savings--as shares fell at a high-single-digit clip. Even after accounting for the decline, though, we ...Church & Dwight develops, manufactures and markets a range of consumer products. The company's consumer products include: ARM & HAMMER? baking soda, cat litter, laundry detergent, carpet deodorizer and other baking soda based products; TROJAN? condoms, lubricants and vibrators; OXICLEAN? stain removers, cleaning solutions, laundry detergents and bleach alternatives; SPINBRUSH? battery-operated toothbrushes; FIRST RESPONSE? home pregnancy and ovulation test kits; NAIR? depilatories; ORAJEL? oral analgesic; XTRA? laundry detergent; L'IL CRITTERS? and VITAFUSION? gummy dietary supplements; BATISTE? dry shampoo; WATERPIK? water flossers and showerheads, and FLAWLESS? hair removal products.
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