On this page of StockholderLetter.com we present the latest annual shareholder letter from CHURCH & DWIGHT CO INC /DE/ — ticker symbol CHD. Reading current and past CHD letters to shareholders can bring important insights into the investment thesis.

 •  3/20/2025 Letter Continued (Full PDF)
 •  3/17/2023 CHD Stockholder Letter
 •  3/22/2024 CHD Stockholder Letter
 •  More "Consumer Goods" Category Stockholder Letters
 •  CHD Benford's Law Stock Score = 96

CHD Shareholder/Stockholder Letter Transcript:

Church & Dwight Co., Inc.
Annual Report
2024

in millions, except per share data
2024
Net Sales  
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2023
reported
adjusted*
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On January 31, 2025, the Company declared a 4.0% increase in its
quarterly dividend from $0.28375 per share to $0.295 per share.
2024 Key Financial Results
Worldwide net sales increased 4.1%.
    Organic sales increased 4.6%.
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110 basis points to 45.2%.

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to 18.9%.
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Adjusted earnings per shared increased 8.5%.
Net Sales
Adjusted Earnings Per Share (1)
(in millions of dollars)
(in dollars)
2022
2023
2024
$5,376
$5,868
$6,107
2022
$2.97(2)
2023
2024
$3.17(3)
$3.44(4)
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Church & Dwight Co., Inc., founded in 1846, is the leading
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U.S. producer of sodium bicarbonate, popularly known as
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baking soda, a natural product that cleans, deodorizes,
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range of consumer and specialty products developed from
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the base of sodium bicarbonate and related technologies.
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both household and personal care products, and Consumer
and the other 6 power brands make Church & Dwight one
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of the leading consumer packaged goods companies in the
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professional products.
Growth Driven by 7 Power Brands
ARM & HAMMER
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"o  u1;    bu1-m-   $o|-   &"     &     +$           7-|- |_uo  ]_                   
OXICLEAN
#1 Stain Fighter
BATISTE
#1 Dry Shampoo
WATERPIK
#1 Power
Water Flosser
THERABREATH
#1 Alcohol-Free
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HERO
#1 Acne Patch and
 1m; $u;-|l;m|
VITAFUSION
#3 Branded
Gummy Vitamin
Annual Report 2024 | 1

MATTHEW T. FARRELL
RICHARD A. DIERKER
PATRICK D. DE MAYNADIER, ESQ.
Chairman, President
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President, Chief Financial
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General Counsel and Secretary
Dear Fellow Stockholder,
I am pleased to report that we delivered a year of strong
revenue and earnings growth:

Reported net sales were $6,107 million, a 4.1% increase.
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our Specialty Products business.
    Adjusted
gross margin increased 110 basis points to
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to stockholders through dividends.
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to our success.
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Total Shareholder Return (TSR)
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the same period.
Evergreen Model
Key Drivers of TSR
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4% annual organic revenue growth and 8% annual
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with strategic investments to sustain long-term growth.
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2 | Church & Dwight Co., Inc.
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enables us to succeed in various economic environments.
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premium and value brands.

2. Focus on Power Brands
5. Winning Online
While we sell over 80 brands, seven of these brands
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primarily compete in larger categories and have the
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in most categories. We connect with consumers through
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market shares for our brands.
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We are preparing ourselves for a world where 40% of our
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in all classes of trade and accounts for 80% of our annual
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growing class of trade in our company, both in the U.S. and
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of the digital skills we have developed and the adaptability
of our Company to be ready for the future.
6. Focus on Gross Margin
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together grew almost 5% and accounted for 63% of our
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in long-term growth.
Gross margin expansion fuels our organic growth
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Church & Dwight has a long history of successfully
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create value, we have a superior track record in making
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Annual Report 2024 | 3



 3/20/2025 Letter Continued (Full PDF)