Church & Dwight (NYSE: CHD) reported Q4 EPS of $0.57, $0.01 worse than the analyst estimate of $0.58. Revenue for the quarter came in at $1.07 billion versus the consensus estimate of $1.07 billion.

Mr. Farrell stated, “We expect 2019 to be another strong year with EPS of $2.43 to $2.47, an increase of 7-9%, driven by operating income growth. This reflects continued strong business performance in-line with our Evergreen model.”

Mr. Farrell continued, “We expect full year 2019 sales growth to be approximately 3.5% reflecting strength in all three of our businesses with exciting new product introductions across our most important categories. We expect full year gross margin to be up 35 basis points when excluding the impact of U.S. tariffs, or up 10 basis points when including U.S. tariffs. Productivity and pricing are expected to offset continued pressure from commodities, transportation, and U.S. tariffs. We expect full year marketing spending to increase as we invest in our ARM & HAMMER “More Power to You” power brand campaign. We continue to invest in our previously announced long-term partnerships in Asia. We expect operating profit margin expansion to be in-line with our Evergreen model of +50 basis points primarily driven by SG&A leverage. The 2019 effective tax rate is expected to be in-line with 2018. Cash flow from operations is expected to be approximately $800 million. We continue to aggressively pursue accretive acquisitions that meet our strict criteria.

“For Q1, we expect reported and organic sales growth of approximately 3.5% to 4% and EPS to be $0.66 per share, a 5% increase over last year’s Q1 EPS.”

GUIDANCE:

Church & Dwight sees FY2019 EPS of $2.43-$2.47, versus the consensus of $2.48.

Church & Dwight sees Q1 2019 EPS of $0.66, versus the consensus of $0.67.

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