Church & Dwight (NYSE: CHD) reported Q3 EPS of $0.49, $0.02 better than the analyst estimate of $0.47. Revenue for the quarter came in at $967.9 billion versus the consensus estimate of $935.59 billion.

Matthew Farrell, Chief Executive Officer, commented, “We are pleased with our organic sales growth across all three divisions. In the domestic business, our targeted investment spending and higher marketing investment translated into share growth with 7 out of 11 power brands exceeding or meeting category growth. Our investments in our international business, particularly export, are paying off as evidenced by consistent organic growth which we expect to continue.”

GUIDANCE:

Church & Dwight sees FY2017 EPS of $1.92, versus the consensus of $1.93.

With regard to 2017, Mr. Farrell said, “This has been an exciting year for Church & Dwight based on our continued focus on innovation. This innovation has enabled our consumer brands to grow faster than the category rates. We expect reported sales growth of approximately 7% and organic sales growth of approximately 2.5%. On a reported basis, EPS is expected to be $1.82 per share or 4% reported EPS growth, which includes a $0.01 negative impact from the Brazil charge, $0.12 negative impact from the U.K. pension settlement, $0.03 positive impact from the joint venture tax benefit and zero impact from current year acquisitions. Excluding these charges and tax benefit, we expect to achieve $1.92 per share or 8.5% adjusted EPS growth. In 2017, as in previous years, we expect free cash flow to exceed net income.”

In conclusion, Mr. Farrell said, “For the fourth quarter, we expect reported sales growth of approximately 12% and organic sales growth of approximately 2.5%. We expect EPS of $0.50 in the fourth quarter, a 19% increase over last year’s reported results and a 14% increase over last year’s adjusted results.”

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