Church & Dwight Co., Inc. reported third-quarter 2024 net sales growth of 3.8% to $1,510.6 million, with organic sales increasing 4.3%, driven by a 3.1% rise in product volumes. Adjusted EPS for the quarter was $0.79, an increase of 6.8%, surpassing the company's outlook of $0.67.
Despite the strong operational performance, the company reported a net loss of $0.31 per share due to non-cash asset impairment charges totaling $357.1 million before tax, or $270.1 million after tax. These charges were related to the company's vitamin business (VMS), reflecting a reduction in its long-term growth and profit outlook.
For the full year 2024, Church & Dwight affirmed its reported sales growth outlook of approximately 3.5% and organic sales growth of approximately 4%. The company also raised its outlook for full-year adjusted gross margin expansion to approximately 110 basis points and maintained its adjusted EPS growth expectation of approximately 8%.
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