Church & Dwight Co. Inc. on July 31 revised its outlook for 2019 as strong domestic and overseas sales led to better-than-expected earnings for the second quarter.
The New Jersey-based household-products maker now expects full-year adjusted EPS to grow 9% to $2.47, the top end of its previously announced guidance range of $2.43 to $2.47. Sales are expected to increase about 6%, compared with the previous sales outlook of 5% to 6%.
For the current quarter ending Sept. 30, the company expects adjusted EPS to be 60 cents, a 3% increase year over year, excluding the earnout adjustment from the acquisition of the Flawless business. The company expects reported sales growth of about 6%.
The company expects to continue its spending on long-term brand building activities, research and development, and new product investments.
For the three months to June 30, Church & Dwight posted adjusted diluted EPS of 57 cents, up 16.3% from 49 cents in the year-ago period and above the S&P Global Market Intelligence consensus normalized EPS estimate of 52 cents.
Sales increased by 5% year over year to $1.08 billion from $1.03 billion, with organic growth of 4.9%. The company reported that consumer domestic net sales rose 5.8% to $819.3 million, while consumer international sales climbed 6% to $186.6 million.