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Church & Dwight Company Inc. (CHD+0.75%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing reports net sales of $6,107.1 million, an increase of 4.1% over the previous year. This growth was driven by favorable volumes and pricing/product mix across all segments, with Consumer Domestic and Consumer International showing gains, partially offset by lower sales in the Specialty Products Division.
Gross profit for the year was $2,790.1 million, with a gross margin of 45.7%, up from 44.1% in 2023. The increase in gross margin was attributed to productivity programs, favorable price/volume/mix, and a favorable tariff ruling.
Operating income decreased by 23.7% to $807.1 million, primarily due to a non-cash charge of $357.1 million related to the impairment of the VITAFUSION and L'IL CRITTERS trade names and associated assets.
Net income for the year was $585.3 million, resulting in diluted earnings per share of $2.37, down from $3.05 in 2023. Excluding the impairment charges, diluted earnings per share were $3.47.
The company reported cash provided by operating activities of $1,156.2 million, a $125.6 million increase from the previous year, driven by higher cash earnings.
Church & Dwight returned $277.0 million to shareholders through dividends in 2024. The board declared a 4% increase in the quarterly dividend, raising it to $0.295 per share.
Significant developments include the acquisition of Graphico, Inc., a Japan-based distributor, and the sale of the Passport food safety business. The company also exited the MEGALAC supplement portion of its Animal Nutrition business.
The filing outlines risks such as intense market competition, changes in consumer preferences, and potential impacts from regulatory changes. The company continues to focus on cost control, product innovation, and strategic acquisitions to drive growth.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Church & Dwight Company Inc. annual 10-K report dated February 13, 2025. To report an error, please email earnings@qz.com.