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CHURCH & DWIGHT CO INC /DE/ Quarterly Report for Q1 Ended Mar 30, 2001

Filing Date
Filed May 9, 2001
Period End
March 30, 2001
Security
CHD
In the record · 2016–202610-K1110-Q328-K103

CHD filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 103 current reports (8-K) between 2016 and 2026.

  1. Deal closed8-K · Aug ’17Aug ’17
  2. Leadership change8-K · Aug ’19Aug ’19
  3. Leadership change8-K · Sep ’21Sep ’21
  4. Material agreement8-K · Jul ’25Jul ’25

01—Abstract

Summary

Summary of the 10-Q filed May 9, 2001. Cited figures are marked; the original filing is the authoritative source.

Church & Dwight Co., Inc. reported solid financial results for the first quarter ended March 30, 2001, showcasing a significant increase in net sales, up 32.3% year-over-year to $256.5 milliona.

This growth was primarily driven by the successful integration of USA Detergents' brands into their consumer products segment. Net income also saw a modest increase to $12.1 millionb, with diluted earnings per share rising to $0.30 from $0.29 in the prior year period. The company maintained its quarterly dividend at $0.07 per share.

02—Key points

Key Highlights

  1. Net sales surged 32.3% to $256.5 million, largely due to the inclusion of USA Detergents' brands in the consumer products segment.
  2. Net income increased to $12.1 million, translating to $0.32 basic EPS and $0.30 diluted EPS, up from $0.30 and $0.29 respectively in the prior year.
  3. Gross margin declined to 36.7% from 43.6%, attributed to the consolidation of lower-margin USA Detergents brands and plant shutdown costs.
  4. Advertising, consumer, and trade promotion expenses increased, reflecting higher spending on laundry products due to new brands.
  5. Selling, general, and administrative expenses rose, driven by higher deferred compensation, ARMUS joint venture costs, and professional fees.
  6. The company announced a definitive agreement to acquire the consumer products business of Carter-Wallace, Inc. for $739 million, significantly expanding its product portfolio.
  7. The company is financing significant upcoming acquisitions, including USA Detergents and Carter-Wallace, with a committed $500 million senior credit facility.

03—Questions

Frequently Asked Questions

  1. What drove the significant increase in net sales for the quarter?

    The primary driver for the 32.3% increase in net sales to $256.5 million was the inclusion of brands acquired through the USA Detergents integration into Church & Dwight's consumer products segment, particularly in the laundry detergent category.

  2. Why did the gross margin decrease despite higher sales?

    The gross margin decreased from 43.6% to 36.7%. This was primarily due to the consolidation of the lower-margin USA Detergents brands. Additionally, plant and warehouse shutdown costs and lower personal care sales also contributed to this margin compression.

  3. What are the significant upcoming strategic moves for Church & Dwight?

    Church & Dwight has announced two major strategic initiatives: first, the definitive agreement to acquire USA Detergents, Inc., and second, a significant agreement to acquire the consumer products business of Carter-Wallace, Inc. for $739 million, which includes brands like Arrid and Nair, through a partnership with Kelso & Company.

  4. How is the company financing these upcoming acquisitions?

    The company is arranging substantial financing to support its strategic acquisitions. It has secured a commitment for a $500 million senior credit facility and will utilize a combination of debt and equity for the USA Detergents and Carter-Wallace transactions.

04—Continue

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