Church & Dwight sees Q3 adjusted EPS 66c, consensus 78c

Matthew Farrell, CEO, stated, “For Q3, we expect reported sales growth of approximately 8%, organic sales growth of approximately 4% and gross margin expansion driving double digit gross profit growth, which reflects a continuation of the strong performance we have seen through the first six months of the year. We expect a significant increase in marketing spending and higher SG&A from higher incentive compensation and investments for the future, as well as a higher tax rate. As a result, we expect Reported EPS of 63c and Adjusted EPS of 66c per share, a 13% decrease from last year’s Adjusted Q3 EPS as investment spending is weighted more to Q3.”