Church & Dwight drops on seeing FY earnings at lower end of forecast

Church & Dwight

02/08/2024 13:32

** Shares of condom maker Church & Dwight  CHD.N  down 4% at
$96 premarket
    ** Co says it expects FY sales and profit at the lower end
of its forecast as consumers turn cautious on spending
    ** Co expects FY adjusted profit growth at lower end of
projected 8%-9% range
    ** Sees annual organic sales to grow by 4%, compared with
prior forecast range of 4%-5%
    ** "... Differently from prior periods CHD acknowledged a
slowdown in growth in its categories, as evident in scanner data
trends," Citi Research says in a note 
    ** However, co tops Q2 estimates for profit and posts
in-line revenue
    ** As of last close, stock up 5.8% YTD

 (Reporting by Granth Vanaik in Bengaluru)
 ((Granth.Vanaik@thomsonreuters.com; Twitter: https://twitter.com/Vanaik_Granth;))