Church & Dwight Q3 Earnings Up, Results Beat Estimates; Sees Growth In Q4

(RTTNews) - Church & Dwight Co., Inc. (CHD), maker of Arm & Hammer brand products, Monday reported third-quarter earnings which increased, helped by higher sales of its Clump & Seal cat litter and Oxiclean detergent. Both earnings and revenues also beat analysts' estimates.

For the three months to September, net earnings were $115.9 million or $0.85 per share, up from $107.9 million or $0.76 per share a year earlier.

Analysts polled by Thomson-Reuters expected, on average, earnings of $0.82. Analysts' estimates typically exclude one-time items.

Net sales rose to $841.8 million, from $804.8 million last year, above the $828.76 million analysts expected. The company also said it sold more of its Trojan condoms and Vitafusion vitamins.

Looking ahead, the company tightened its annual earnings outlook to 8 percent growth, or $3.01 per share, from the prior guidance for 7 to 9 percent growth. The company maintained its organic sales growth outlook of 3 percent. The company expects high single digit EPS growth in 2015.

For the fourth quarter, the company expects earnings of $0.78, or a 20 percent rise over last year, on organic sales growth of approximately 3 percent.

Analysts expect fourth-quarter earnings of $0.82, 2014 earnings of $3.02, and 2015 earnings of $3.32.

Separately, the company said it appointed Chief Financial Officer Matthew Farrell to a role combining chief operating officer and CFO, with effect from November 3.

"In his new role Matt will lead all line functions along with the finance organization, allowing me to focus more time on long term corporate strategy and accretive mergers and acquisitions," said James Craigie, CEO and Chairman of Church & Dwight.