Page 1

ARM & HAMMER THE STANDARD OF PURITY CHURCH & DWIGHT CO . , INC . News Release Contact : Rick Dierker Chief Financial Officer 609-806-1200 CHURCH & DWIGHT REPORTS Q3 RESULTS Q3 NET SALES AND ADJUSTED EPS EXCEED OUTLOOK MAINTAINS FULL YEAR OUTLOOK ANNOUNCES ADDITIONAL PRICING ACTIONS ANNOUNCES $ 1 BILLION STOCK REPURCHASE PROGRAM 2021 Third Quarter Results • Net Sales + 5.7 % : Domestic + 4.6 % , Int'l + 6.3 % , SPD + 18.5 % ● Organic sales + 3.7 % : Domestic + 2.8 % , Int'l + 2.3 % , SPD + 18.5 % • EPS + 8.2 % ; Adjusted + 14.3 % ² 2021 Full Year Outlook • Net Sales growth raised to ~ 5.5 % ; Organic Sales growth ~ 4 % ² Adjusted EPS growth at 6 % 1 ● • Cash from operations remains at approx . $ 950 million EWING , NJ , October 29 , 2021 - Church & Dwight Co. , Inc. ( NYSE : CHD ) today announced third quarter net sales grew 5.7 % to $ 1,311.4 million . The Company continues to experience strong consumer demand for many of its products . Organic sales grew 3.7 % , exceeding the Company's outlook of 1.5 % growth.² Third quarter 2021 EPS increased 8.2 % to $ 0.92 per share . Adjusted EPS , which excludes a positive acquisition related earn - out adjustment in both periods , increased 14.3 % to $ 0.80² per share , exceeding the Company's adjusted outlook of $ 0.70¹ per share . The higher earnings are primarily a result of higher - than - expected revenues from our consumer domestic business . Matthew Farrell , Chief Executive Officer , commented , " Our brands once again experienced strong consumption in Q3 . Organic sales growth of 3.7 % is on top of 9.9 % organic growth in Q3 2020. In the U.S. we grew consumption in 12 of the 16 categories , with five categories exceeding double digit growth . Consumption continues to outpace shipments as supply chain disruptions continue . Global online sales grew 2.2 % ( on top of 102 % growth in Q3 2020 ) and as a percentage of total sales has expanded to 14.3 % in Q3 . " " I'd like to recognize all Church & Dwight employees around the world for their dedication to helping us successfully navigate another challenging quarter , especially our Supply Chain and R & D teams as the Company faces complexities of raw material and labor shortages at our plants , our suppliers , and third - party manufacturers which were exacerbated by Hurricane Ida . Their commitment to finding alternative suppliers while maintaining the quality of our products has been remarkable . " " Although consumption is higher , case fill rates have recovered slower than expected and are well below normal levels . Hurricane Ida's impact was substantial , resulting limited availability of raw materials , which caused our fill levels to continue to be below normal . Consequently , we pulled back on Q3 marketing for products most affected by the shortages , especially household products . We expect supply availability issues to begin to abate in the first half of 2022 for most of our brands . With continued strength from consumer demand for our products , we are making significant capital investments in 2022 and 2023 to expand capacity in our factories as well as our supplier network . " " Significant inflation of material , component and co - packer costs impacted our gross margin in Q3 . Looking forward , we expect input costs and transportation costs to remain elevated in Q4 and expect significant incremental cost increases in 2022. In response to the rising costs , we have already taken pricing actions on 50 % of our portfolio