Church & Dwight Co., Inc.
CHURCH & DWIGHT DELIVERS STRONG THIRD QUARTER RESULTS Q3 NET SALES, ORGANIC SALES AND ADJUSTED EPS EXCEED OUTLOOK RAISES FULL YEAR 2026 SALES OUTLOOK AND TIGHTENS EPS OUTLOOK RANGE
2026 Third Quarter Results 2026 Full Year Outlook • Net Sales +1.0% reflecting strategic • Net Sales approximately +0.5% Portfolio actions• Organic Sales (Prior Range Flat to +1%)• Organic +5.1%: Sales Growth approximately +5%1 Domestic +4.4% | Int’l +7.8% | SPD (Prior +4% to +5%)• Adjusted Gross +5.0%¹• Gross Margin 46.8% (+170 Margin expansion of approximately 100 bps)• bps • EPS +20%; Adjusted EPS Reported EPS $0.89, Adjusted EPS approximately +7%¹ (Prior 6% to 8%)• $0.92¹ Cash From Operations ~$1.175 Billion (+13.6%)• Cash from Operations $380 Million
EWING, NJ, October 30, 2026 – Church & Dwight Co., Inc. (NYSE: CHD) today announced that the Company exceeded its third quarter outlook with stronger than forecasted sales and earnings growth. Net sales increased 1.0% to $1,602 million in the third quarter, exceeding the Company’s outlook of a 1% decline and reflecting the benefits of the 2025 strategic portfolio actions. Organic sales grew 5.1%, well above the Company’s 3% outlook, with growth across all three divisions, driven primarily by volume growth of 4.6%, as well as positive price and mix of 0.5%. Rick Dierker, Chief Executive Officer, commented, “Our power brands continue to perform exceptionally well despite a challenging macroeconomic environment, driving our third consecutive quarter of industry- leading organic sales growth. In the third quarter, our leading brands once again increased share driven by innovation, distribution wins, and our targeted marketing investments. The strength of our brand portfolio, combined with our targeted 2025 strategic portfolio actions, has enhanced the focus on our growth initiatives and reinforces our confidence as we enter the fourth quarter of 2026 and into 2027. We are raising our 2026 outlook for sales and tightening our outlook for earnings per share. “Thank you to our Church & Dwight team members across the globe for executing well in a volatile environment and delivering strong organic growth and gross margin expansion every quarter this year. In the third quarter, the domestic division grew 4.4% organically reflecting sustained strength across both our household and personal care portfolios. The International division grew a robust 7.8% organically, driven by broad-based growth across the Global Markets Group and our subsidiaries. The Specialty Products division also delivered a strong organic sales growth of 5.0% as the business delivered balanced results across the globe. Global e-commerce revenues grew 20% in the third quarter with global online sales now representing 25.9% of the Company’s total consumer sales, reflecting the continued strength of its digital capabilities and brands. “Third quarter reported EPS was $0.89, compared to $0.75 last year. Third quarter Adjusted EPS of $0.92 increased 13.6% versus last year and exceeded the Company’s outlook of $0.89. Stronger-than-expected sales drove earnings growth versus our outlook and supported incremental SG&A investments and incentive compensation. The Company continues to expect approximately $1.175 billion of cash from operations for full-year 2026.”
Consumer Domesticnet sales were $1,225 million, a $5 million or 0.4% increase. Organic sales increased 4.4%driven by volume growth (+3.6%) and favorable price and product mix (+0.8%). Organic sales growth was driven by ARM & HAMMER™ Liquid Laundry Detergent, THERABREATH™ mouthwash and toothpaste, ARM & HAMMER™ cat litter, and WATERPIK™ water flossers. Reported Consumer Domestic sales also included growth from the MISS MOUTH’S acquisition which partially offset the sales impact from last year’s strategic portfolio actions.
Consumer Internationalnet sales were $297 million, a $7 million or 2.5% increase. Organic sales increased 7.8% driven by higher volume (+9.1%) and partially offset by lower price and product mix (-1.3%). Growth was driven by the THERABREATH, BATISTE™, TOUCHLAND™ and OXICLEAN™ brands.
Specialty Productsnet sales were $80 million, a $4 million or 5.0%increase. Organic sales also increased 5.0% as a result of higher volume (+2.9%) and higher price and product mix (+2.1%).
Gross marginincreased 170 basis points to 46.8%. Adjusted gross margin was also 46.8%, an increase of 170 basis points driven by higher volume, productivity, tariff refunds, and favorable mix from our acquisitions and portfolio actions, which offset the higher inflation and transportation cost increases.
Marketing expensewas $191 million or 11.9% of net sales, down 90 basis points compared to last year. The Company continues to invest in its brands and new products, supporting our strategic innovation and growth initiatives.
Selling, general, and administrative expense (SG&A)was $267 million, including $6 million of charges for restricted stock issued for the TOUCHLAND acquisition. Adjusted SG&A was $261million1or 16.3% of net sales, a 110-basis point increase over the prior year primarily from the amortization and SG&A expenses related to our acquisitions, SG&A investments and higher incentive compensation costs.
Income from Operationswas $291 million. Adjusted income from operations was $298 million, an increase of $27 million and 10.1% compared to prior year.1
The adjusted effective tax rate decreased to21.5% in the third quarter from 21.6% last year.
Strong cash flow generation and the strength of the Company’s balance sheet remain a hallmark of its business and provides substantial flexibility to invest in growth and pursue strategic acquisition opportunities. Cash from operations for the first nine months of 2026 was $841 million, a decrease of 1.3%versus prior year.
Capital expenditures totaled $92 million through the third quarter, an increase of $24 million versus the prior year. The Company expects full-year capital expenditures to be approximately $125 million or 2% of sales. As of September 30, 2026, the Company’s total debt was $2.2 billion and cash-on-hand was $447 million.
The Company’s Board of Directors has approved a new share repurchase program authorizing the Company to repurchase up to $1 billion of its common stock. The new share repurchase program has no expiration date and replaces the Company’s existing share repurchase program. This program is supported by the Company’s strong
cash generation and balance sheet flexibility, and the authorization is consistent with its disciplined approach to capital allocation and provides additional flexibility to return capital to shareholders while continuing to invest in the business and pursue strategic opportunities.
“Innovation has always been a key driver of our organic growth and it continues to be a major driver of our results in 2026,” said Mr. Dierker. “We are confident that our relentless focus on innovation will continue to drive industry-leading growth, distribution gains at shelf, and market share expansion. Our innovations launched throughout 2026 across our power brands are performing very well.”
THERABREATH™ continued the momentum behind its new toothpaste launch with a robust marketing campaign that drove trial and built every-day regimen for our new toothpaste product line. The new line includes four variants addressing top consumer oral care needs with its effective cleaning and distinctively fresh flavor profile. Consumer reviews across multiple platforms have led to strong average ratings of 4.5 stars.
In rinse, THERABREATH™ launched new Complete Revitalizing Mint with 6-in-1 benefits and its signature alcohol-free, no burn, dye-free experience. THERABREATH™ Complete is now the top-selling new rinse sold nationally. THERABREATH™ also just launched new portable rinse sachets in both Invigorating Icy Mint and Anti-cavity Sparkle Mint for freshness on the go. Available in 10ct packs, they are designed for travel, purse or pocket – whenever and wherever the need for fresh breath arises.
ARM & HAMMER™ Cat Litter launched DUAL DEFENSE™ with Microban® Clumping Litter. This innovative formula delivers two layers of powerful protection: ARM & HAMMER™ odor-eliminating technology that seals and destroys odors, plus active Microban® antimicrobial product protection. Designed for germ-conscious pet parents, DUAL DEFENSE™ provides elevated confidence and a fresher experience. The launch is off to a strong start, supported by marketing investments and earning a 4.6-star consumer rating.
OXICLEAN continues to innovate behind the OXICLEAN MAX FORCE line of products. This sub-brand continues to gain momentum behind strong distribution gains, dedicated advertising, and growing consumer acceptance. OXICLEAN MAX FORCE is now the second fastest growing sub-brand in Stain Fighter Category up +40%, only behind Miss Mouth's.
HERO™ is bringing its acne expertise to the cleanser category with a lineup of cleansers that address distinct needs for the acne-prone consumer. Mighty Cleanser™, Pore Cleanser and Gentle Cleansers includes powerhouse ingredients that deliver the perfect balance of efficacy and gentleness and are designed to tackle acne without the dryness and irritation of traditional acne products.
“We continue to execute with excellence in a challenging environment,” said Mr. Dierker. “Our focus remains on providing consumers with high-quality, solution- oriented products at the right value. Our improved sales outlook reflects the strength of our operating fundamentals, which underpin our volume growth, market share gains and gross margin expansion.
“We have revised our reported sales to approximately 0.5%growth, versus our prior view of flat to 1%. The Company is also raising its full year organic sales growth to approximately 5%, the high end of its prior expectation of 4% to
5%, reflecting the Company’s strong year to date growth and its confidence in continued momentum during the fourth quarter.¹
“While there are growing inflationary pressures related to the Middle East conflict and transportation rates are increasing globally, the Company is confident it can continue to mitigate this cost pressure.
“Full-year adjusted gross margin expansion is now expected to be approximately 100 basis points, inclusive of the incrementally higher transportation costs. Volume growth, productivity, tariff refunds and favorable mix from our acquisitions and portfolio actions are expected to more than offset higher inflation, transportation and tariff-related costs.
“Marketing as a percentage of sales is expected to be approximately 11% of sales reflecting the Company’s continued commitment to brand investment.
“We continue to expect SG&A as a percentage of sales to remain above 2025 levels, reflecting the impact of the TOUCHLAND and MISS MOUTH’S acquisitions and our targeted investments in growth initiatives, AI, ecommerce and our international business.
“We now expect full-year reported EPS to increase approximately 20%. We also expect Adjusted EPS growth for 2026 of 7%, tightening the range from our prior expectation of 6% to 8%. This update reflects our strong growth across all three divisions, continued gross margin expansion and our disciplined investments in our business to support growth.
“Our Cash flow from operations outlook remains approximately at $1.175 billion. We will continue to pursue acquisitions that meet our strict criteria, with an emphasis on fast-moving consumable products, similar to the successful THERABREATH, HERO, TOUCHLAND and MISS MOUTH’S acquisitions.
“For the fourth quarter, we expect reported sales decline of approximately 0.5%, driven entirely by the strategic portfolio actions taken in 2025. We expect organic sales growth of approximately 4.0%¹ and continued gross margin expansion. Overall adjusted EPS is expected to increase 17% to 19% versus last year.¹Similar to past years, when we have strong business performance, we prioritize investing for the future. Our fourth quarter investments will focus on driving future growth and targeted AI capabilities.
“Finally, as we look ahead to 2027, we continue to remain very optimistic about the Company’s performance. With our 2025 portfolio actions complete, our teams have focused throughout 2026 on advancing our 2030 growth initiatives. These initiatives are focused on expanding ARM & HAMMER, increasing THERABREATH in Oral Care, and scaling our International business. We look forward to sharing our first formal update on these initiatives at our January investor meeting.”
¹Organic Sales, Adjusted Gross Margin, Adjusted SG&A, Adjusted Income from Operations, Adjusted Tax Rate, and Adjusted EPS are non-GAAP measures. See non- GAAP reconciliations included at the end of this release.
Church & Dwight Co., Inc. (NYSE: CHD) will host a webcast to discuss third quarter 2026 results on October 30, 2026, at 10:00 a.m. (ET). The webcast will be broadcast online and available for replay until October 30, 2027.
Church & Dwight Co., Inc. (NYSE: CHD) founded in 1846, is the leading U.S. producer of sodium bicarbonate, popularly known as baking soda. The Company manufactures and markets a wide range of personal care,
household, and specialty products under recognized brand names such as ARM & HAMMER®, TROJAN®, OXICLEAN®, FIRST RESPONSE®, NAIR®, ORAJEL®, XTRA®, BATISTE®, WATERPIK®, ZICAM®, THERABREATH®, HERO®, TOUCHLAND®and MISS MOUTH’S®. For more information, visit the Company’s website.
Church & Dwight has a longstanding heritage of commitment to people and the planet. In the early 1900’s, we began using recycled paperboard for all packaging of household products. Today, virtually all our paperboard packaging is from certified, sustainable sources. In 1970, the ARM & HAMMER™ brand introduced the first nationally distributed, phosphate-free detergent. That same year, Church & Dwight was honored to be one of a few corporate sponsors of the first annual Earth Day. Most recently in 2025 and 2026, our ongoing progress
earned continued public recognition, including Time Magazine’s Ranking of the World’s Most Sustainable
Companies and America’s Best Companies, Newsweek Magazine’s-- Americas Most Responsible Companies, USA Today’s Ranking of America’s Climate Leaders, Forbes Magazine’s-- America’s Best Midsize, FTSE4Good Index Series, amongst others. For more information, see theChurch & Dwight 2025 Sustainability Reporton the Company’s website.
This press release contains forward-looking statements, including, among others, statements relating to net sales and earnings growth; the impact of tariffs; gross margin changes; trade and marketing spending; marketing expense as a percentage of net sales; sufficiency of cash flows from operations; earnings per share; the impact of new accounting pronouncements; cost savings programs; recessionary conditions; interest rates; inflation; consumer demand and spending; the effects of competition; the effect of product mix; volume growth, including the effects of new product launches into new and existing categories; the impact of acquisitions; and capital expenditures. Other forward-looking statements in this release may be identified by the use of such terms as “may,” “could,” “expect,” “intend,” “believe,” “plan,” “estimate,” “outlook,” “forecast,” “project,” “anticipate,” “to be,” “to make” or other comparable terms. These statements represent the intentions, plans, expectations and beliefs of the Company, and are based on assumptions that the Company believes are reasonable but may prove to be incorrect. In addition, these statements are subject to risks, uncertainties and other factors, many of which are outside the Company’s control and could cause actual results to differ materially from such forward-looking statements. Factors that could cause such differences include a decline in market growth, retailer distribution and consumer demand (as a result of, among other things, political, economic and marketplace conditions and events), including those relating to the outbreak of contagious diseases; the impact of new regulations and legislation and change in regulatory priorities; shifting economic policies in the United States; potential changes in export/import and trade laws, regulations and policies of the United States and other countries, including any increased trade restrictions or tariffs; increased or changing regulation regarding the Company’s products and its suppliers in the United States and other countries where it or its suppliers operate; the impact on the global economy of the Russia/Ukraine war and conflict in the Middle East, including the impact of export controls and other economic sanctions; potential recessionary conditions or economic uncertainty; the impact of continued shifts in consumer behavior, including accelerating shifts to on- line shopping; unanticipated increases in raw material and energy prices, including as a result of the Russia/Ukraine war, conflict in the Middle East or other inflationary pressures; delays and increased costs in manufacturing and distribution; increases in transportation costs; labor shortages; the impact of price increases for our products; the impact of inflationary conditions; the impact of supply chain and labor disruptions; the impact of severe or inclement weather on raw material and transportation costs; adverse developments affecting the financial condition of major customers and suppliers; competition; changes in marketing and promotional spending; growth or declines in various product categories and the impact of customer actions in response to changes in consumer demand and the economy, including increasing shelf space or on-line share of private label and retailer-branded products or other changes in the retail environment; impairment charges or other negative impacts to the value of the Company’s assets; consumer and competitor reaction to, and customer acceptance of, new product introductions and features; our ability to complete the announced strategic alternatives for certain of our businesses and realize the intended benefits; the risk that the announcement of strategic alternatives could have an adverse effect on the Company; the Company’s ability to maintain product quality and characteristics at a level acceptable to our customers and consumers; disruptions in the banking system and financial markets; the Company’s borrowing capacity and ability to finance its operations and potential acquisitions; higher interest rates;
foreign currency exchange rate fluctuations; market volatility; issues relating to the Company’s information technology and controls; the impact of natural disasters, including those related to climate change, on the Company and its customers and suppliers, including third party information technology service providers; integrations of acquisitions or divestiture of assets; the outcome of contingencies, including litigation, pending regulatory proceedings and environmental matters; and changes in the regulatory environment in the countries where we do business.
For a description of additional factors that could cause actual results to differ materially from the forward-looking statements, please see Item 1A, “Risk Factors” in the Company’s annual report on Form 10-K and quarterly reports on Form 10-Q. The Company undertakes no obligation to publicly update any forward- looking statements, whether as a result of new information, future events or otherwise, except as required by the U.S. federal securities laws. You are advised, however, to consult any further disclosures the Company makes on related subjects in its filings with the United States Securities and Exchange Commission.
This press release also contains non-GAAP financial information. Management uses this information in its internal analysis of results and believes that this information may be informative to investors in gauging the quality of the Company’s financial performance, identifying trends in its results and providing meaningful period-to-period comparisons. The Company has included reconciliations of these non-GAAP financial measures to the most directly comparable financial measure calculated in accordance with GAAP. See the end of this press release for these reconciliations. These non-GAAP financial measures should not be considered in isolation or as a substitute for the comparable GAAP measures. In addition, these non-GAAP financial measures may not be the same as similar measures provided by other companies due to potential differences in methods of calculation and items being excluded. They should be read in connection with the Company’s financial statements presented in accordance with GAAP. CHURCH & DWIGHT CO., INC. AND SUBSIDIARIES Condensed Consolidated Statements of Income (Unaudited)
CHURCH & DWIGHT CO., INC. AND SUBSIDIARIES Condensed Consolidated Balance Sheets (Unaudited)
(Dollars in September 30, millions) 2026 December 31, 2025 ────────────────────────────────────────────────────────────────────────────── Assets Current Assets Cash and Cash $ 446.9 $ 409.0 Equivalents Accounts 635.2 593.4 Receivable Inventories 632.3 534.8 Other Current 58.0 59.8 Assets Total Current 1,772.4 1,597.0 Assets Property, Plant and Equipment 834.8 822.8 (Net) Equity Investment 11.9 10.3 in Affiliates Trade Names and 3,705.9 3,511.5 Other Intangibles Goodwill 2,665.8 2,627.5 Other Long-Term 348.1 343.3 Assets Total Assets $ 9,338.9 $ 8,912.4 Liabilities and Stockholders’ Equity Current portion $ 424.7 $ 0.0 of Long-Term debt Other Current 1,427.2 1,497.7 Liabilities Total Current 1,851.9 1,497.7 Liabilities Long-Term Debt 1,782.2 2,205.1 Other Long-Term 1,220.8 1,207.4 Liabilities Stockholders’ 4,484.0 4,002.2 Equity Total Liabilities and Stockholders’ $ 9,338.9 $ 8,912.4 Equity
CHURCH & DWIGHT CO., INC. AND SUBSIDIARIES Condensed Consolidated Statements of Cash Flow (Unaudited)
(Dollars in Nine Months September September millions) Ended 30, 2026 30, 2025 ────────────────────────────────────────────────────────────────────────────── Net Income $ 631.3 $ 593.3 Depreciat… and 192.8 181.6 amortizat… Deferred income 4.4 31.7 taxes Business exit 0.0 51.0 related impairmen… Non-cash 60.5 44.2 compensat… Other 4.1 14.2 Subtotal 893.1 916.0 Changes in assets and liabiliti… Accounts (45.9 ) 17.5 receivable Inventori… (98.2 ) (3.3 ) Other current (4.1 ) 1.7 assets Accounts 83.2 39.8 payable Accrued (26.4 ) (83.3 ) expenses Income taxes 58.7 (13.4 ) payable Other (19.2 ) (23.0 ) Net cash from 841.2 852.0 operating activities Capital (91.6 ) (67.2 ) expenditu… Acquisiti… (300.0 ) (656.4 ) Payment of business (10.0 ) 0.0 acquisiti… liabiliti… Other (1.1 ) (1.7 ) Net cash (used in) (402.7 ) (725.3 ) investing activities Payment of cash (219.6 ) (216.4 ) dividends Purchase of (37.1 ) (600.0 ) treasury stock Payment of business (180.5 ) (5.9 ) acquisiti… liabiliti… Proceeds from stock 46.9 33.1 option exercises Other stock (5.8 ) 0.0 award activity Other (1.8 ) (4.7 ) Net cash (used in) (397.9 ) (793.9 ) financing activities F/X impact (2.7 ) 8.4 on cash Net change in cash $ 37.9 $ (658.8 ) and cash equivalen…
Non-GAAP Measures: The following discussion addresses the non-GAAP measures used in this press release and reconciliations of these non-GAAP measures to the most directly comparable GAAP measures. These non-GAAP financial measures should not be considered in isolation from or as a substitute for the comparable GAAP measures. The following non-GAAP measures may not be the same as similar measures provided by other companies due to differences in methods of calculation and items and events being excluded. Organic Sales Growth: This press release provides information regarding organic sales growth, namely net sales growth excluding the effect of acquisitions, divestitures and foreign exchange rate changes. Management believes that the presentation of organic sales growth is useful to investors because it enables them to assess, on a consistent basis, sales trends related to products that were marketed by the Company during the entirety of relevant periods, excluding the impact of acquisitions, divestitures, and foreign exchange rate changes that are out of the control of, and do not reflect the performance of the Company and management. Adjusted Gross Margin: This press release provides information regarding adjusted gross margin, namely gross margin calculated in accordance with GAAP, as adjusted to exclude significant one-time items that are not indicative of the Company’s period-to-period performance. We believe that this metric provides investors a useful perspective of underlying business trends and results and provides useful supplemental information regarding our year over year gross margin. Adjusted Selling, General, and Administrative Expense (SG&A): This press release also presents adjusted SG&A, namely, SG&A calculated in accordance with GAAP, as adjusted to exclude significant one-time items that are not indicative of the Company’s period-to-period performance. We believe that this metric provides investors a useful perspective of underlying business trends and results and provides useful supplemental information regarding our year over year SG&A expense. Adjusted Income from Operations: This press release also presents adjusted income from operations, namely income from operations calculated in accordance with GAAP, as adjusted to exclude significant one-time items that are not indicative of the Company’s
period-to-period performance. We believe that this metric provides investors a useful perspective of underlying business trends and results and provides useful supplemental information regarding our year over year income from operations. Adjusted EPS: This press release also presents adjusted earnings per share, namely, EPS calculated in accordance with GAAP, as adjusted to exclude significant one-time items that are not indicative of the Company’s period-to- period performance. We believe that this metric provides investors a useful perspective of underlying business trends and results and provides useful supplemental information regarding our year over year EPS growth. CHURCH & DWIGHT CO., INC. Organic Sales
CHURCH & DWIGHT CO., INC. Reconciliation of GAAP Measures to Non-GAAP Measures (Unaudited)
Reported and Organic Forecasted Sales Reconciliation For the Quarter For the Year Ended Ended December 31, 2026 December 31, 2026 Reported Sales Growth -0.5% 0.5% Acquisition/Divestiture/FX/Other 4.5% 4.5% Organic Sales Growth 4.0% 5.0%
For the year ended For the year ended December 31, 2026 December 31, 2025 ────────────────────────────────────────────────────────────────────────────── Adjusted Diluted Earnings Per Share Reconciliation (Forecasted) Diluted Earnings Per $ 3.63 $ 3.02 Share - Reported ERP Project Costs 0.03 0.02 Touchland Restricted 0.10 0.05 Stock Business Exit Related 0.00 0.14 Impairments Hero Restricted Stock 0.00 0.03 Waterpik Restructuring 0.00 0.01 Touchland Earnout 0.00 0.08 VMS Divestiture 0.00 0.18 Diluted Earnings Per Share - Adjusted $ 3.76 $ 3.53 (non-GAAP)
Full text with the tables
Church & Dwight Co., Inc.
News Release
Contact:
Lee McChesney
Chief Financial Officer
609-806-1200
CHURCH & DWIGHT DELIVERS STRONG THIRD QUARTER RESULTS Q3 NET SALES, ORGANIC
SALES AND ADJUSTED EPS EXCEED OUTLOOK RAISES FULL YEAR 2026 SALES OUTLOOK AND
TIGHTENS EPS OUTLOOK RANGE
2026 Third Quarter Results 2026 Full Year Outlook
• Net Sales +1.0% reflecting
strategic • Net Sales approximately +0.5%
Portfolio actions• Organic Sales (Prior Range Flat to +1%)• Organic
+5.1%: Sales Growth approximately +5%1
Domestic +4.4% | Int’l +7.8% | SPD (Prior +4% to +5%)• Adjusted Gross
+5.0%¹• Gross Margin 46.8% (+170 Margin expansion of approximately 100
bps)• bps • EPS +20%; Adjusted EPS
Reported EPS $0.89, Adjusted EPS approximately +7%¹ (Prior 6% to 8%)•
$0.92¹ Cash From Operations ~$1.175 Billion
(+13.6%)• Cash from Operations $380
Million
EWING, NJ, October 30, 2026 – Church & Dwight Co., Inc. (NYSE: CHD) today
announced that the Company exceeded its third quarter outlook with stronger than
forecasted sales and earnings growth. Net sales increased 1.0% to $1,602 million
in the third quarter, exceeding the Company’s outlook of a 1% decline and
reflecting the benefits of the 2025 strategic portfolio actions. Organic sales
grew 5.1%, well above the Company’s 3% outlook, with growth across all three
divisions, driven primarily by volume growth of 4.6%, as well as positive price
and mix of 0.5%. Rick Dierker, Chief Executive Officer, commented, “Our power
brands continue to perform exceptionally well despite a challenging
macroeconomic environment, driving our third consecutive quarter of industry-
leading organic sales growth. In the third quarter, our leading brands once
again increased share driven by innovation, distribution wins, and our targeted
marketing investments. The strength of our brand portfolio, combined with our
targeted 2025 strategic portfolio actions, has enhanced the focus on our growth
initiatives and reinforces our confidence as we enter the fourth quarter of 2026
and into 2027. We are raising our 2026 outlook for sales and tightening our
outlook for earnings per share. “Thank you to our Church & Dwight team members
across the globe for executing well in a volatile environment and delivering
strong organic growth and gross margin expansion every quarter this year. In the
third quarter, the domestic division grew 4.4% organically reflecting sustained
strength across both our household and personal care portfolios. The
International division grew a robust 7.8% organically, driven by broad-based
growth across the Global Markets Group and our subsidiaries. The Specialty
Products division also delivered a strong organic sales growth of 5.0% as the
business delivered balanced results across the globe. Global e-commerce revenues
grew 20% in the third quarter with global online sales now representing 25.9% of
the Company’s total consumer sales, reflecting the continued strength of its
digital capabilities and brands.
“Third quarter reported EPS was $0.89, compared to $0.75 last year. Third
quarter Adjusted EPS of $0.92 increased 13.6% versus last year and exceeded the
Company’s outlook of $0.89. Stronger-than-expected sales drove earnings growth
versus our outlook and supported incremental SG&A investments and incentive
compensation. The Company continues to expect approximately $1.175 billion of
cash from operations for full-year 2026.”
Third Quarter Review
Consumer Domesticnet sales were $1,225 million, a $5 million or 0.4% increase.
Organic sales increased 4.4%driven by volume growth (+3.6%) and favorable price
and product mix (+0.8%). Organic sales growth was driven by ARM & HAMMER™ Liquid
Laundry Detergent, THERABREATH™ mouthwash and toothpaste, ARM & HAMMER™ cat
litter, and WATERPIK™ water flossers. Reported Consumer Domestic sales also
included growth from the MISS MOUTH’S acquisition which partially offset the
sales impact from last year’s strategic portfolio actions.
Consumer Internationalnet sales were $297 million, a $7 million or 2.5%
increase. Organic sales increased 7.8% driven by higher volume (+9.1%) and
partially offset by lower price and product mix (-1.3%). Growth was driven by
the THERABREATH, BATISTE™, TOUCHLAND™ and OXICLEAN™ brands.
Specialty Productsnet sales were $80 million, a $4 million or 5.0%increase.
Organic sales also increased 5.0% as a result of higher volume (+2.9%) and
higher price and product mix (+2.1%).
Gross marginincreased 170 basis points to 46.8%. Adjusted gross margin was also
46.8%, an increase of 170 basis points driven by higher volume, productivity,
tariff refunds, and favorable mix from our acquisitions and portfolio actions,
which offset the higher inflation and transportation cost increases.
Marketing expensewas $191 million or 11.9% of net sales, down 90 basis points
compared to last year. The Company continues to invest in its brands and new
products, supporting our strategic innovation and growth initiatives.
Selling, general, and administrative expense (SG&A)was $267 million, including
$6 million of charges for restricted stock issued for the TOUCHLAND acquisition.
Adjusted SG&A was $261million1or 16.3% of net sales, a 110-basis point increase
over the prior year primarily from the amortization and SG&A expenses related to
our acquisitions, SG&A investments and higher incentive compensation costs.
Income from Operationswas $291 million. Adjusted income from operations was $298
million, an increase of $27 million and 10.1% compared to prior year.1
The adjusted effective tax rate decreased to21.5% in the third quarter from
21.6% last year.
Cash Flow
Strong cash flow generation and the strength of the Company’s balance sheet
remain a hallmark of its business and provides substantial flexibility to invest
in growth and pursue strategic acquisition opportunities. Cash from operations
for the first nine months of 2026 was $841 million, a decrease of 1.3%versus
prior year.
Capital expenditures totaled $92 million through the third quarter, an increase
of $24 million versus the prior year. The Company expects full-year capital
expenditures to be approximately $125 million or 2% of sales. As of September
30, 2026, the Company’s total debt was $2.2 billion and cash-on-hand was $447
million.
The Company’s Board of Directors has approved a new share repurchase program
authorizing the Company to repurchase up to $1 billion of its common stock. The
new share repurchase program has no expiration date and replaces the Company’s
existing share repurchase program. This program is supported by the Company’s
strong
cash generation and balance sheet flexibility, and the authorization is
consistent with its disciplined approach to capital allocation and provides
additional flexibility to return capital to shareholders while continuing to
invest in the business and pursue strategic opportunities.
2026 New Products
“Innovation has always been a key driver of our organic growth and it continues
to be a major driver of our results in 2026,” said Mr. Dierker. “We are
confident that our relentless focus on innovation will continue to drive
industry-leading growth, distribution gains at shelf, and market share
expansion. Our innovations launched throughout 2026 across our power brands are
performing very well.”
The Company’s 2026 innovation portfolio is focused on the following:
THERABREATH™ continued the momentum behind its new toothpaste launch with a
robust marketing campaign that drove trial and built every-day regimen for our
new toothpaste product line. The new line includes four variants addressing top
consumer oral care needs with its effective cleaning and distinctively fresh
flavor profile. Consumer reviews across multiple platforms have led to strong
average ratings of 4.5 stars.
In rinse, THERABREATH™ launched new Complete Revitalizing Mint with 6-in-1
benefits and its signature alcohol-free, no burn, dye-free experience.
THERABREATH™ Complete is now the top-selling new rinse sold nationally.
THERABREATH™ also just launched new portable rinse sachets in both Invigorating
Icy Mint and Anti-cavity Sparkle Mint for freshness on the go. Available in 10ct
packs, they are designed for travel, purse or pocket – whenever and wherever the
need for fresh breath arises.
ARM & HAMMER™ Cat Litter launched DUAL DEFENSE™ with Microban® Clumping Litter.
This innovative formula delivers two layers of powerful protection: ARM &
HAMMER™ odor-eliminating technology that seals and destroys odors, plus active
Microban® antimicrobial product protection. Designed for germ-conscious pet
parents, DUAL DEFENSE™ provides elevated confidence and a fresher experience.
The launch is off to a strong start, supported by marketing investments and
earning a 4.6-star consumer rating.
OXICLEAN continues to innovate behind the OXICLEAN MAX FORCE line of products.
This sub-brand continues to gain momentum behind strong distribution gains,
dedicated advertising, and growing consumer acceptance. OXICLEAN MAX FORCE is
now the second fastest growing sub-brand in Stain Fighter Category up +40%, only
behind Miss Mouth's.
HERO™ is bringing its acne expertise to the cleanser category with a lineup of
cleansers that address distinct needs for the acne-prone consumer. Mighty
Cleanser™, Pore Cleanser and Gentle Cleansers includes powerhouse ingredients
that deliver the perfect balance of efficacy and gentleness and are designed to
tackle acne without the dryness and irritation of traditional acne products.
Outlook for 2026
“We continue to execute with excellence in a challenging environment,” said Mr.
Dierker. “Our focus remains on providing consumers with high-quality, solution-
oriented products at the right value. Our improved sales outlook reflects the
strength of our operating fundamentals, which underpin our volume growth, market
share gains and gross margin expansion.
“We have revised our reported sales to approximately 0.5%growth, versus our
prior view of flat to 1%. The Company is also raising its full year organic
sales growth to approximately 5%, the high end of its prior expectation of 4% to
5%, reflecting the Company’s strong year to date growth and its confidence in
continued momentum during the fourth quarter.¹
“While there are growing inflationary pressures related to the Middle East
conflict and transportation rates are increasing globally, the Company is
confident it can continue to mitigate this cost pressure.
“Full-year adjusted gross margin expansion is now expected to be approximately
100 basis points, inclusive of the incrementally higher transportation costs.
Volume growth, productivity, tariff refunds and favorable mix from our
acquisitions and portfolio actions are expected to more than offset higher
inflation, transportation and tariff-related costs.
“Marketing as a percentage of sales is expected to be approximately 11% of sales
reflecting the Company’s continued commitment to brand investment.
“We continue to expect SG&A as a percentage of sales to remain above 2025
levels, reflecting the impact of the TOUCHLAND and MISS MOUTH’S acquisitions and
our targeted investments in growth initiatives, AI, ecommerce and our
international business.
“Our adjusted tax rate is expected to be approximately 21%.
“We now expect full-year reported EPS to increase approximately 20%. We also
expect Adjusted EPS growth for 2026 of 7%, tightening the range from our prior
expectation of 6% to 8%. This update reflects our strong growth across all three
divisions, continued gross margin expansion and our disciplined investments in
our business to support growth.
“Our Cash flow from operations outlook remains approximately at $1.175 billion.
We will continue to pursue acquisitions that meet our strict criteria, with an
emphasis on fast-moving consumable products, similar to the successful
THERABREATH, HERO, TOUCHLAND and MISS MOUTH’S acquisitions.
“For the fourth quarter, we expect reported sales decline of approximately 0.5%,
driven entirely by the strategic portfolio actions taken in 2025. We expect
organic sales growth of approximately 4.0%¹ and continued gross margin
expansion. Overall adjusted EPS is expected to increase 17% to 19% versus last
year.¹Similar to past years, when we have strong business performance, we
prioritize investing for the future. Our fourth quarter investments will focus
on driving future growth and targeted AI capabilities.
“Finally, as we look ahead to 2027, we continue to remain very optimistic about
the Company’s performance. With our 2025 portfolio actions complete, our teams
have focused throughout 2026 on advancing our 2030 growth initiatives. These
initiatives are focused on expanding ARM & HAMMER, increasing THERABREATH in
Oral Care, and scaling our International business. We look forward to sharing
our first formal update on these initiatives at our January investor meeting.”
¹Organic Sales, Adjusted Gross Margin, Adjusted SG&A, Adjusted Income from
Operations, Adjusted Tax Rate, and Adjusted EPS are non-GAAP measures. See non-
GAAP reconciliations included at the end of this release.
Church & Dwight Co., Inc. (NYSE: CHD) will host a webcast to discuss third
quarter 2026 results on October 30, 2026, at 10:00 a.m. (ET). The webcast will
be broadcast online and available for replay until October 30, 2027.
About Church & Dwight Co., Inc.
Church & Dwight Co., Inc. (NYSE: CHD) founded in 1846, is the leading U.S.
producer of sodium bicarbonate, popularly known as baking soda. The Company
manufactures and markets a wide range of personal care,
household, and specialty products under recognized brand names such as ARM &
HAMMER®, TROJAN®, OXICLEAN®, FIRST RESPONSE®, NAIR®, ORAJEL®, XTRA®, BATISTE®,
WATERPIK®, ZICAM®, THERABREATH®, HERO®, TOUCHLAND®and MISS MOUTH’S®. For more
information, visit the Company’s website.
Church & Dwight has a longstanding heritage of commitment to people and the
planet. In the early 1900’s, we began using recycled paperboard for all
packaging of household products. Today, virtually all our paperboard packaging
is from certified, sustainable sources. In 1970, the ARM & HAMMER™ brand
introduced the first nationally distributed, phosphate-free detergent. That same
year, Church & Dwight was honored to be one of a few corporate sponsors of the
first annual Earth Day. Most recently in 2025 and 2026, our ongoing progress
earned continued public recognition, including Time Magazine’s Ranking of the
World’s Most Sustainable
Companies and America’s Best Companies, Newsweek Magazine’s-- Americas Most
Responsible Companies, USA Today’s Ranking of America’s Climate Leaders, Forbes
Magazine’s-- America’s Best Midsize, FTSE4Good Index Series, amongst others. For
more information, see theChurch & Dwight 2025 Sustainability Reporton the
Company’s website.
This press release contains forward-looking statements, including, among others,
statements relating to net sales and earnings growth; the impact of tariffs;
gross margin changes; trade and marketing spending; marketing expense as a
percentage of net sales; sufficiency of cash flows from operations; earnings per
share; the impact of new accounting pronouncements; cost savings programs;
recessionary conditions; interest rates; inflation; consumer demand and
spending; the effects of competition; the effect of product mix; volume growth,
including the effects of new product launches into new and existing categories;
the impact of acquisitions; and capital expenditures. Other forward-looking
statements in this release may be identified by the use of such terms as “may,”
“could,” “expect,” “intend,” “believe,” “plan,” “estimate,” “outlook,”
“forecast,” “project,” “anticipate,” “to be,” “to make” or other comparable
terms. These statements represent the intentions, plans, expectations and
beliefs of the Company, and are based on assumptions that the Company believes
are reasonable but may prove to be incorrect. In addition, these statements are
subject to risks, uncertainties and other factors, many of which are outside the
Company’s control and could cause actual results to differ materially from such
forward-looking statements. Factors that could cause such differences include a
decline in market growth, retailer distribution and consumer demand (as a result
of, among other things, political, economic and marketplace conditions and
events), including those relating to the outbreak of contagious diseases; the
impact of new regulations and legislation and change in regulatory priorities;
shifting economic policies in the United States; potential changes in
export/import and trade laws, regulations and policies of the United States and
other countries, including any increased trade restrictions or tariffs;
increased or changing regulation regarding the Company’s products and its
suppliers in the United States and other countries where it or its suppliers
operate; the impact on the global economy of the Russia/Ukraine war and conflict
in the Middle East, including the impact of export controls and other economic
sanctions; potential recessionary conditions or economic uncertainty; the impact
of continued shifts in consumer behavior, including accelerating shifts to on-
line shopping; unanticipated increases in raw material and energy prices,
including as a result of the Russia/Ukraine war, conflict in the Middle East or
other inflationary pressures; delays and increased costs in manufacturing and
distribution; increases in transportation costs; labor shortages; the impact of
price increases for our products; the impact of inflationary conditions; the
impact of supply chain and labor disruptions; the impact of severe or inclement
weather on raw material and transportation costs; adverse developments affecting
the financial condition of major customers and suppliers; competition; changes
in marketing and promotional spending; growth or declines in various product
categories and the impact of customer actions in response to changes in consumer
demand and the economy, including increasing shelf space or on-line share of
private label and retailer-branded products or other changes in the retail
environment; impairment charges or other negative impacts to the value of the
Company’s assets; consumer and competitor reaction to, and customer acceptance
of, new product introductions and features; our ability to complete the
announced strategic alternatives for certain of our businesses and realize the
intended benefits; the risk that the announcement of strategic alternatives
could have an adverse effect on the Company; the Company’s ability to maintain
product quality and characteristics at a level acceptable to our customers and
consumers; disruptions in the banking system and financial markets; the
Company’s borrowing capacity and ability to finance its operations and potential
acquisitions; higher interest rates;
foreign currency exchange rate fluctuations; market volatility; issues relating
to the Company’s information technology and controls; the impact of natural
disasters, including those related to climate change, on the Company and its
customers and suppliers, including third party information technology service
providers; integrations of acquisitions or divestiture of assets; the outcome of
contingencies, including litigation, pending regulatory proceedings and
environmental matters; and changes in the regulatory environment in the
countries where we do business.
For a description of additional factors that could cause actual results to
differ materially from the forward-looking statements, please see Item 1A, “Risk
Factors” in the Company’s annual report on Form 10-K and quarterly reports on
Form 10-Q. The Company undertakes no obligation to publicly update any forward-
looking statements, whether as a result of new information, future events or
otherwise, except as required by the U.S. federal securities laws. You are
advised, however, to consult any further disclosures the Company makes on
related subjects in its filings with the United States Securities and Exchange
Commission.
This press release also contains non-GAAP financial information. Management uses
this information in its internal analysis of results and believes that this
information may be informative to investors in gauging the quality of the
Company’s financial performance, identifying trends in its results and providing
meaningful period-to-period comparisons. The Company has included
reconciliations of these non-GAAP financial measures to the most directly
comparable financial measure calculated in accordance with GAAP. See the end of
this press release for these reconciliations. These non-GAAP financial measures
should not be considered in isolation or as a substitute for the comparable GAAP
measures. In addition, these non-GAAP financial measures may not be the same as
similar measures provided by other companies due to potential differences in
methods of calculation and items being excluded. They should be read in
connection with the Company’s financial statements presented in accordance with
GAAP.
CHURCH & DWIGHT CO., INC. AND SUBSIDIARIES Condensed Consolidated Statements of
Income (Unaudited)
Three
Months
Ended
(In
millio…
except
per Septem… Septem… Nine Septem… Septe…
share 30, 30, Months 30, 30,
data) 2026 2025 Ended 2026 2025
──────────────────────────────────────────────────────────────────────────────
Net $ 1,602.1 $ 1,585.6 $ 4,601.4 $ 4,559…
Sales
Cost
of 852.7 871.2 2,476.7 2,538…
sales
Gross 749.4 714.4 2,124.7 2,021…
Profit
Marke… 190.7 202.9 495.4 496.6
expen…
Selli…
gener…
and 267.3 256.9 770.5 712.8
admin…
expen…
Income
from 291.4 254.6 858.8 811.6
Opera…
Equity
in
earni… 2.7 2.2 7.7 6.6
of
affil…
Other
income (22.2 ) (20.6 ) (66.1 ) (49.4 )
(expe…
net
Income
before 271.9 236.2 800.4 768.8
Income
Taxes
Income 59.7 54.0 169.1 175.5
taxes
Net $ 212.2 $ 182.2 $ 631.3 $ 593.3
Income
Net
Income
per $ 0.89 $ 0.75 $ 2.67 $ 2.43
share
-
Basic
Net
Income
per $ 0.89 $ 0.75 $ 2.65 $ 2.41
share
-
Dilut…
Divid…
per $ 0.31 $ 0.30 $ 0.93 $ 0.89
share
Weigh…
avera…
shares 237.1 241.8 236.8 244.1
outst…
-
Basic
Weigh…
avera…
shares 238.7 243.2 238.4 245.9
outst…
-
Dilut…
CHURCH & DWIGHT CO., INC. AND SUBSIDIARIES Condensed Consolidated Balance Sheets
(Unaudited)
(Dollars in September 30,
millions) 2026 December 31, 2025
──────────────────────────────────────────────────────────────────────────────
Assets
Current Assets
Cash and Cash $ 446.9 $ 409.0
Equivalents
Accounts 635.2 593.4
Receivable
Inventories 632.3 534.8
Other Current 58.0 59.8
Assets
Total Current 1,772.4 1,597.0
Assets
Property, Plant
and Equipment 834.8 822.8
(Net)
Equity Investment 11.9 10.3
in Affiliates
Trade Names and 3,705.9 3,511.5
Other Intangibles
Goodwill 2,665.8 2,627.5
Other Long-Term 348.1 343.3
Assets
Total Assets $ 9,338.9 $ 8,912.4
Liabilities and
Stockholders’
Equity
Current portion $ 424.7 $ 0.0
of Long-Term debt
Other Current 1,427.2 1,497.7
Liabilities
Total Current 1,851.9 1,497.7
Liabilities
Long-Term Debt 1,782.2 2,205.1
Other Long-Term 1,220.8 1,207.4
Liabilities
Stockholders’ 4,484.0 4,002.2
Equity
Total Liabilities
and Stockholders’ $ 9,338.9 $ 8,912.4
Equity
CHURCH & DWIGHT CO., INC. AND SUBSIDIARIES Condensed Consolidated Statements of
Cash Flow (Unaudited)
(Dollars in Nine Months September September
millions) Ended 30, 2026 30, 2025
──────────────────────────────────────────────────────────────────────────────
Net Income $ 631.3 $ 593.3
Depreciat…
and 192.8 181.6
amortizat…
Deferred
income 4.4 31.7
taxes
Business
exit 0.0 51.0
related
impairmen…
Non-cash 60.5 44.2
compensat…
Other 4.1 14.2
Subtotal 893.1 916.0
Changes in
assets and
liabiliti…
Accounts (45.9 ) 17.5
receivable
Inventori… (98.2 ) (3.3 )
Other
current (4.1 ) 1.7
assets
Accounts 83.2 39.8
payable
Accrued (26.4 ) (83.3 )
expenses
Income
taxes 58.7 (13.4 )
payable
Other (19.2 ) (23.0 )
Net cash
from 841.2 852.0
operating
activities
Capital (91.6 ) (67.2 )
expenditu…
Acquisiti… (300.0 ) (656.4 )
Payment of
business (10.0 ) 0.0
acquisiti…
liabiliti…
Other (1.1 ) (1.7 )
Net cash
(used in) (402.7 ) (725.3 )
investing
activities
Payment of
cash (219.6 ) (216.4 )
dividends
Purchase
of (37.1 ) (600.0 )
treasury
stock
Payment of
business (180.5 ) (5.9 )
acquisiti…
liabiliti…
Proceeds
from stock 46.9 33.1
option
exercises
Other
stock (5.8 ) 0.0
award
activity
Other (1.8 ) (4.7 )
Net cash
(used in) (397.9 ) (793.9 )
financing
activities
F/X impact (2.7 ) 8.4
on cash
Net change
in cash $ 37.9 $ (658.8 )
and cash
equivalen…
2026 and 2025 Product Line Net Sales
Three
Months
Ended Percent
9/30/2026 9/30/2025 Change
──────────────────────────────────────────────────────────────────────────────
Household $ 711.6 $ 646.7 10.0 %
Products
Personal
Care 513.5 573.0 -10.4 %
Products
Consumer $ 1,225.1 $ 1,219.7 0.4 %
Domestic
Consumer 297.4 290.1 2.5 %
Internatio…
Total
Consumer $ 1,522.5 $ 1,509.8 0.8 %
Net Sales
Specialty
Products 79.6 75.8 5.0 %
Division
Total Net $ 1,602.1 $ 1,585.6 1.0 %
Sales
Nine Months Percent
Ended
9/30/2026 9/30/2025 Change
Household $ 2,015.2 $ 1,911.6 5.4 %
Products
Personal
Care 1,483.4 1,592.0 -6.8 %
Products
Consumer $ 3,498.6 $ 3,503.6 -0.1 %
Domestic
Consumer 868.8 829.6 4.7 %
Internatio…
Total
Consumer $ 4,367.4 $ 4,333.2 0.8 %
Net Sales
Specialty
Products 234.0 225.8 3.6 %
Division
Total Net $ 4,601.4 $ 4,559.0 0.9 %
Sales
Non-GAAP Measures: The following discussion addresses the non-GAAP measures used
in this press release and reconciliations of these non-GAAP measures to the most
directly comparable GAAP measures. These non-GAAP financial measures should not
be considered in isolation from or as a substitute for the comparable GAAP
measures. The following non-GAAP measures may not be the same as similar
measures provided by other companies due to differences in methods of
calculation and items and events being excluded. Organic Sales Growth: This
press release provides information regarding organic sales growth, namely net
sales growth excluding the effect of acquisitions, divestitures and foreign
exchange rate changes. Management believes that the presentation of organic
sales growth is useful to investors because it enables them to assess, on a
consistent basis, sales trends related to products that were marketed by the
Company during the entirety of relevant periods, excluding the impact of
acquisitions, divestitures, and foreign exchange rate changes that are out of
the control of, and do not reflect the performance of the Company and
management. Adjusted Gross Margin: This press release provides information
regarding adjusted gross margin, namely gross margin calculated in accordance
with GAAP, as adjusted to exclude significant one-time items that are not
indicative of the Company’s period-to-period performance. We believe that this
metric provides investors a useful perspective of underlying business trends and
results and provides useful supplemental information regarding our year over
year gross margin. Adjusted Selling, General, and Administrative Expense (SG&A):
This press release also presents adjusted SG&A, namely, SG&A calculated in
accordance with GAAP, as adjusted to exclude significant one-time items that are
not indicative of the Company’s period-to-period performance. We believe that
this metric provides investors a useful perspective of underlying business
trends and results and provides useful supplemental information regarding our
year over year SG&A expense. Adjusted Income from Operations: This press release
also presents adjusted income from operations, namely income from operations
calculated in accordance with GAAP, as adjusted to exclude significant one-time
items that are not indicative of the Company’s
period-to-period performance. We believe that this metric provides investors a
useful perspective of underlying business trends and results and provides useful
supplemental information regarding our year over year income from operations.
Adjusted EPS: This press release also presents adjusted earnings per share,
namely, EPS calculated in accordance with GAAP, as adjusted to exclude
significant one-time items that are not indicative of the Company’s period-to-
period performance. We believe that this metric provides investors a useful
perspective of underlying business trends and results and provides useful
supplemental information regarding our year over year EPS growth. CHURCH &
DWIGHT CO., INC. Organic Sales
Three
Months
Ended
9/30/2026
Total Worldwide Consumer Consumer Specialty
Company Consumer Domestic Internatio… Products
Reported
Sales 1.0% 0.8% 0.4% 2.5% 5.0%
Growth
Less:
Acquisiti… 1.9% 2.0% 2.4% 0.0% 0.0%
Add:
FX / Other -0.1% -0.1% 0.0% -0.5% 0.0%
Divestitu… 6.1% 6.4% 6.4% 5.8% 0.0%
Organic
Sales 5.1% 5.1% 4.4% 7.8% 5.0%
Growth
Nine Months
Ended
9/30/2026
Total Worldwide Consumer Consumer Specialty
Company Consumer Domestic Internatio… Products
Reported
Sales 0.9% 0.8% -0.1% 4.7% 3.6%
Growth
Less:
Acquisiti… 2.3% 2.4% 2.7% 0.7% 0.0%
Add:
FX / Other -0.5% -0.5% 0.0% -2.6% 0.0%
Divestitu… 7.2% 7.5% 7.8% 5.5% 0.0%
Organic
Sales 5.3% 5.4% 5.0% 6.9% 3.6%
Growth
CHURCH & DWIGHT CO., INC. Reconciliation of GAAP Measures to Non-GAAP Measures
(Unaudited)
(…
in Th…
m… Mo…
e… En…
p… Se…
s… 30,
d… 20…
──────────────────────────────────────────────────────────────────────────────
As Ye… E… T… Y…
Re… GA… P… R… A… N…
(US Ch… C… S… (… G…
GA… C…
N… $ 1,… $ 16… $ 0.0 $ 0.0 $ 1,… $ 16…
S…
C…
of 85… (1… ) 0.0 0.0 85… (1… )
s…
G… 74… 35… 0.0 0.0 74… 35…
P…
G… 46… % 1.7 % 46… % 1.7 %
M…
M… 19… (1… ) 0.0 0.0 19… (1… )
e…
P…
of 11… % -0… % 11… % -0… %
N…
S…
S… 26… 10… (0… ) (6… ) 26… 20…
P…
of 16… % 0.5 % 16… % 1.1 %
N…
S…
I…
f… 29… 36… 0.2 6.3 29… 27…
O…
O… 18… % 2.1 % 18… % 1.5 %
M…
E…
in
e… 2.7 0.5 0.0 0.0 2.7 0.5
of
a…
O…
i… (2… ) (1… ) 0.0 0.0 (2… ) (1… )
(…
n…
I…
b… 27… 35… 0.2 6.3 27… 26…
I…
T…
I… 59… 5.7 0.1 0.0 59… 5.1
t…
N… $ 21… $ 30… $ 0.1 $ 6.3 $ 21… $ 21…
I…
N…
I…
p… $ 0.… 18… $ 0.0 $ 0.… $ 0.… 13… %
s…
-
D…
A…
m…
n…
a…
d…
to
r…
(…
in Ni…
m… Mo…
e… En…
p… Se…
s… 30,
d… 20…
──────────────────────────────────────────────────────────────────────────────
As Ye… ERP To… Ye…
Re… GA… Pr… Re… Ad… Non
(US Ch… Co… St… (n… GA…
GA… Ch…
N… $ 4,… $ 42… $ 0… $ 0… $ 4… $ 4…
S…
C…
of 2,… (6… ) 0… 0… 2… (… )
s…
G… 2,… 10… 0… 0… 2… 7…
P…
G… 46… % 1.9 % 4… % 1… %
M…
M… 49… (1… ) 0… 0… 4… (… )
e…
P…
of 10… % -0… % 1… % -… %
N…
S…
S… 77… 57… (… ) (… ) 7… 7…
P…
of 16… % 1.1 % 1… % 1… %
N…
S…
I…
f… 85… 47… 1… 1… 8… (… )
O…
O… 18… % 0.9 % 1… % -… %
M…
E…
in
e… 7.7 1.1 0… 0… 7… 1…
of
a…
O…
i… (6… ) (1… ) 0… 0… (… ) (… )
(…
n…
I…
b… 80… 31… 1… 1… 8… (… )
I…
T…
I… 16… (6… ) 2… 0… 1… (… )
t…
N… $ 63… $ 38… $ 7… $ 1… $ 6… $ 6…
I…
N…
I…
p… $ 2.… 10… $ 0… $ 0… $ 2… 3… %
s…
-
D…
A…
m…
n…
a…
d…
to
r…
…
…
…
…
…
…
──────────────────────────────────────────────────────────────────────────────
… … … … …
… … … … … …
… … … … … …
… …
$ … $ … $ $ … … $ … $ …
… … … … … …
… … … … … …
… % … % …
… … … … … …
… % … % …
… … ) … … ) … …
… % … % …
… … … … … …
… % … % …
… … … … … …
… % … % …
… … … … … …
… ) … … … … ) …
… … … … … …
… … … … … …
$ … $ … $ $ … … $ … $ …
$ … … $ $ … … $ … $ …
…
…
…
…
…
…
──────────────────────────────────────────────────────────────────────────────
… … …
… … … … …
… … … … …
… …
$ … … $ … $ … $ … $ …
… … ) … ) … … …
… … … … … …
… % … % …
… … … … … …
… % … % …
… … ) … ) … ) … …
… % … % …
… … … … … …
… % … % …
… … … … … …
… % … % …
… … … … … …
… ) … … … … ) …
… … … … … …
… … … … … …
$ … … $ … $ … $ … $ …
$ … … $ … $ … $ … $ …
Reported and Organic Forecasted
Sales
Reconciliation
For the Quarter For the Year
Ended Ended
December 31, 2026 December 31, 2026
Reported Sales Growth -0.5% 0.5%
Acquisition/Divestiture/FX/Other 4.5% 4.5%
Organic Sales Growth 4.0% 5.0%
For the year ended For the year ended
December 31, 2026 December 31, 2025
──────────────────────────────────────────────────────────────────────────────
Adjusted Diluted Earnings
Per Share
Reconciliation
(Forecasted)
Diluted Earnings Per $ 3.63 $ 3.02
Share - Reported
ERP Project Costs 0.03 0.02
Touchland Restricted 0.10 0.05
Stock
Business Exit Related 0.00 0.14
Impairments
Hero Restricted Stock 0.00 0.03
Waterpik Restructuring 0.00 0.01
Touchland Earnout 0.00 0.08
VMS Divestiture 0.00 0.18
Diluted Earnings Per
Share - Adjusted $ 3.76 $ 3.53
(non-GAAP)