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CHURCH & DWIGHT CO., INC. dbAccess Global Consumer Conference 2025
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2 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference This presentation contains forward-looking statements, including, among others, statements relating to net sales and earnings growth, the impact of the Touchland acquisition; the intended benefits of the exploration of strategic alternatives; gross margin changes; trade and marketing spending; marketing expense as a percentage of net sales; sufficiency of cash flows from operations; earnings per share; the impact of new accounting pronouncements; cost savings programs; recessionary conditions; interest rates; inflation; consumer demand and spending; the effects of competition; the effect of product mix; volume growth, including the effects of new product launches into new and existing categories; the impact of acquisitions; and capital expenditures. Other forward-looking statements in this release may be identified by the use of such terms as “may,” “could,” “expect,” “intend,” “believe,” “plan,” “estimate,” “outlook,” “forecast,” “project,” “anticipate,” “to be,” “to make” or other comparable terms. These statements represent the intentions, plans, expectations and beliefs of the Company, and are based on assumptions that the Company believes are reasonable but may prove to be incorrect. In addition, these statements are subject to risks, uncertainties and other factors, many of which are outside the Company’s control and could cause actual results to differ materially from such forward-looking statements. Factors that could cause such differences include a decline in market growth, retailer distribution and consumer demand (as a result of, among other things, political, economic and marketplace conditions and events), including those relating to the outbreak of contagious diseases; the impact of new regulations and legislation and change in regulatory priorities of the new U.S. presidential administration; transition to, and shifting economic policies in the United States; potential changes in export/import and trade laws, regulations and policies of the United States and other countries, including any increased trade restrictions or tariffs; increased or changings regulation regarding the Company’s products and its suppliers in the United States and other countries where it or its suppliers operate; the impact on the global economy of the Russia/Ukraine war and increased conflict in the Middle East, including the impact of export controls and other economic sanctions; potential recessionary conditions or economic uncertainty; the impact of continued shifts in consumer behavior, including accelerating shifts to on-line shopping; unanticipated increases in raw material and energy prices, including as a result of the Russia/Ukraine war, increased conflict in the Middle East or other inflationary pressures; delays and increased costs in manufacturing and distribution; increases in transportation costs; labor shortages; the impact of price increases for our products; the impact of inflationary conditions; the impact of supply chain and labor disruptions; the impact of severe or inclement weather on raw material and transportation costs; adverse developments affecting the financial condition of major customers and suppliers; competition; changes in marketing and promotional spending; growth or declines in various product categories and the impact of customer actions in response to changes in consumer demand and the economy, including increasing shelf space or on-line share of private label and retailer-branded products or other changes in the retail environment; impairment charges or other negative impacts to the value of the Company’s assets; consumer and competitor reaction to, and customer acceptance of, new product introductions and features; the risk that the Touchland acquisition will not be successful or, after the acquisition, that Touchland will not be integrated successfully, the risk that the cost savings from the Touchland acquisition will not be fully realized or will take longer to realize than expected; the Company’s ability to complete the announced strategic alternatives for certain of our businesses and realize the intended benefits; the risk that the announcement of strategic alternatives could have an adverse effect on the Company; the Company’s ability to maintain product quality and characteristics at a level acceptable to our customers and consumers; disruptions in the banking system and financial markets; the Company’s borrowing capacity and ability to finance its operations and potential acquisitions; higher interest rates; foreign currency exchange rate fluctuations; market volatility; issues relating to the Company’s information technology and controls; the impact of natural disasters, including those related to climate change, on the Company and its customers and suppliers, including third party information technology service providers; integrations of acquisitions or divestiture of assets; the outcome of contingencies, including litigation, pending regulatory proceedings and environmental matters; and changes in the regulatory environment in the countries where we do business. For a description of additional factors that could cause actual results to differ materially from the forward-looking statements, please see Item 1A, “Risk Factors” in the Company’s annual report on Form 10-K and quarterly reports on Form 10-Q. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by the U.S. federal securities laws. You are advised, however, to consult any further disclosures the Company makes on related subjects in its filings with the United States Securities and Exchange Commission. This presentation also contains non-GAAP financial information. Management uses this information in its internal analysis of results and believes that this information may be informative to investors in gauging the quality of the Company’s financial performance, identifying trends in its results and providing meaningful period-to-period comparisons. The Company has included reconciliations of these non-GAAP financial measures to the most directly comparable financial measure calculated in accordance with GAAP. See the end of this press release for these reconciliations. These non- GAAP financial measures should not be considered in isolation or as a substitute for the comparable GAAP measures. In addition, these non-GAAP financial measures may not be the same as similar measures provided by other companies due to potential differences in methods of calculation and items being excluded. They should be read in connection with the Company’s financial statements presented in accordance with GAAP. SAFE HARBOR STATEMENT
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3 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference We Remain Confident in our Future Despite a Volatile Environment 3 We have a balanced portfolio We are driving share gains across most of our brands Our latest acquisition brings opportunities for growth Our online channel is experiencing steady growth Innovation remains a key driver of success We are seeing strong international performance Confident about the strength of our evergreen model
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4 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference 77% Domestic Church & Dwight’s Business Segments 18% 5% International Specialty Products Division 2024 Total Company Net Sales $6.1B
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POWER BRANDS
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more than of sales & profits are represented by these 70% 7 POWER BRANDS
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7 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference 46% Personal Care 2024 A Balanced and Diversified Portfolio 5% 49% SPD Household
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8 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference 64%36% Value Premium Product Portfolio of Both Value and Premium Products
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9 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference 9 Introduced in 1846: It All Started With ARM & HAMMER Baking Soda
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10 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference cooking & baking cleaning laundry deodorizing & refreshing personal care health & home remedies pet deodorization
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11 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference $1.0 $6.1 2000 2004 2005 2006 2008 2010 2011 2012 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Net Sales $ Billions We Have a Strong Track Record of Growth Behind A&H and Acquired Brands…and Expect to Continue. Note: Trojan, Nair and First Response acquired in two parts – 2001 and 2004. Acquisitions
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CHURCH & DWIGHT CO., INC. CATEGORIES
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13 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference These 7 Power Brands Compete in 8 Healthy, Growing Categories in the U.S: Source: Circana; Total US – MULO; YTD 2024 data through 12.29.2024 2020 2021 2022 2023 2024 Laundry Clumping Litter Stain Fighters VMS Gummy Dry Shampoo Power Flossing Mouthwash Acne Weighted Average: 2.7
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14 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference US Category Growth 4.5% 2.5% 1.5% 1.5% + Jan-May Avg Jun-Aug Avg Q1-25 Avg Q2 - QTD Avg Source: Circana; Total US – MULO
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15 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference We Remain Confident in our Future Despite a Volatile Environment We have a balanced portfolio We are driving share gains across most of our brands Our latest acquisition brings opportunities for growth Our online channel is experiencing steady growth Innovation remains a key driver of success We are seeing strong international performance Confident about the strength of our evergreen model
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16 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference 2019 2020 2021 2022 2023 2024 Arm & Hammer Oxiclean Stain Fighters VMS Batiste Waterpik TheraBreath Hero 4 of 5 3 of 5 4 of 6 5 of 7 4 of 7 5 of 7 Brand Scorecard 5 of 7 Gaining Share in 2024 Source: Circana; Total US – MULO; YTD 2024 data through 12.29.2024
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Fabric Care 17
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18 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference Liquid Laundry Detergent Source: Circana: Total US – Multi Outlet; L13WE 3.30.25 $ Consumption Change vs. YAG 1Q 2025 -0.2% 3.4% Category Arm & Hammer
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19 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference 5.0% 14.7% 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1Q 25 Arm & Hammer Laundry: Converting and Retaining Consumers Over the Long Term Source: Circana: Total US – Multi Outlet; L13WE 3.30.25 Liquid Laundry Dollar Share 2006 – 1Q 2025 All-time share high
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20 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference Arm & Hammer Laundry Architecture Good, Better, Best Good Better Best
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21 Cat Litter
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22 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference Clumping Litter 1.9% 2.3% Category Arm & Hammer $ Consumption Change vs. YAG 1Q 2025 Source: Circana: Total US – Multi Outlet; L13WE 3.30.25
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23 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference 23.2% 24.9% 2020 2021 2022 2023 2024 1Q 25 A&H Litter: Consistent Share Gains Through Innovation Source: Circana: Total US – Multi Outlet; L13WE 3.30.25; A&H Clumping Litter. 2024 Dollar Share as of 12.29.2024 Clumping Litter Dollar Share 2020 – 1Q 2025
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Acne 24
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25 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference Total Acne 25 -1.2% 13.0% Category Hero $ Consumption Change vs. YAG 1Q 2025 Source: Circana: Total US – Multi Outlet; L13WE 3.30.25
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26 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference 1.2% 22.0% 2020 2021 2022 2023 2024 1Q 25 Hero: All Time Share High Achieved In 1Q 25 Total Acne Dollar Share 2020 – 1Q 2025#1 ACNE BRAND All-time share high Source: Circana: Total US – Multi Outlet; L13WE 3.30.25
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27 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference Hero Still Has Lots of Room To Run Sources: L: Circana: Total US – Multi Outlet L52 WE 03.23.25; R: Numerator Insights; *12ME 3.23.25, Rolling Average Weekly TDP Household Penetration Average Weekly TPD % Chg vs YA -5.7% 46.4% -15.5% 2.0x Acne Treatment Category 2020 20.4% 0.9% 2021 21.8% 3.1% 2022 21.7% 4.7% 2023 23.9% 7.3% 2024 27.3% 9.0% 2025* 27.7% 9.1%
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Mouthwash 28
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29 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference Mouthwash -0.5% 26.1% Category TheraBreath $ Consumption Change vs. YAG Q1 2025 Source: Circana: Total US – Multi Outlet; L13WE 3.30.25
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30 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference 3.9% 20.3% 2020 2021 2022 2023 2024 1Q 25 TheraBreath: All Time Share High Achieved In 1Q 25 Total Mouthwash Dollar Share 2020 – 1Q 25 Source: Circana: Total US – Multi Outlet; Total Mouthwash. L13WE 3.30.25. #1 NON- ALCOHOL All-time share high#2 MOUTHWASH
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31 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference TheraBreath Still Has Lots Of Room To Run Sources: L: Circana; Total US – Multi Outlet L52 WE 3.30.25; R: Numerator Insights; *12ME 3.30.25, Rolling Average Weekly TPD % Chg vs YA 3.1% 0.6% 23.1% 1.8x 2.1x Average Weekly TDP Mouthwash Category 2020 65.7% 2.6% 2021 64.4% 3.2% 2022 62.0% 4.5% 2023 63.6% 7.6% 2024 64.8% 10.2% Q1 2025 64.8% 10.5% Household Penetration
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32 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference 20.4 17.4 10.8 20.3 10.0 12.0 14.0 16.0 18.0 20.0 22.0 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Crest Mouthwash TheraBreath Mouthwash TheraBreath is #2 Total Mouthwash Brand TheraBreath Dollar Share grew +4.3pts vs. YAG Source: Circana CHD Quarter 2023-2025 till L13W ending 03.30.2025
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33 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference We Remain Confident in our Future Despite a Volatile Environment 33 We have a balanced portfolio We are driving share gains across most of our brands Our latest acquisition brings opportunities for growth Our online channel is experiencing steady growth Innovation remains a key driver of success We are seeing strong international performance Confident about the strength of our evergreen model
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• Fastest growth brand in the hand sanitizer category (U.S.) • #2 hand sanitizer in its distribution channels • Purchase price: $700M of cash and stock at closing; $180M potential earnout • TTM net sales: ~$130M • Expected close: Q2 2025 • Touchland will become our 8th power brand
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3 Region: US, Canada, Middle East Categories: Hand sanitizer & Body Mist 30%5%6% HHP vs. 37% Category Marketing as % of NS Online as % of NS 1M+ Instagram / TikTok followers 15+ Awards $640mn US hand sanitizer category 2 Overview
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37 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference Track Record of Success Growing Acquired Brands $115 LTM Sales @ Acquisition 2025 Sales ($’s millions) ~3x $86 LTM Sales @ Acquisition 2025 Sales ($’s millions) ~3x $130 $390 LTM Sales @ Acquisition 2030 Sales ($’s millions) ???
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39 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference We Remain Confident in our Future Despite a Volatile Environment 39 We have a balanced portfolio We are driving share gains across most of our brands Our latest acquisition brings opportunities for growth Our online channel is experiencing steady growth Innovation remains a key driver of success We are seeing strong international performance Confident about the strength of our evergreen model
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40 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference eCommerce Continues to Accelerate for our Brands 40 2% 23% 2016 2017 2018 2019 2020 2021 2022 2023 2024 1Q 25 % of Global Church & Dwight Consumer Net Sales
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41 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference Record Online Shares Arm & Hammer Laundry TheraBreath, Nair, Zicam 4 of 7 Power Brands Growing Online Share
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42 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference Extend Our Global Footprint by retailers NO. 1 NO. 1 PRODUCT LAUNCHES
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43 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference We Remain Confident in our Future Despite a Volatile Environment 43 We have a balanced portfolio We are driving share gains across most of our brands Our latest acquisition brings opportunities for growth Our online channel is experiencing steady growth Innovation remains a key driver of success We are seeing strong international performance Confident about the strength of our evergreen model
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44 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference Half of the Company’s 4% growth in 2024 came from new products Category Leading Innovation
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45 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference New Product Launches
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46 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference We Remain Confident in our Future Despite a Volatile Environment 46 We have a balanced portfolio We are driving share gains across most of our brands Our latest acquisition brings opportunities for growth Our online channel is experiencing steady growth Innovation remains a key driver of success We are seeing strong international performance Confident about the strength of our evergreen model
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CHURCH & DWIGHT CO., INC. CONSUMER INTERNATIONAL
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48 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference International Organic Sales Evergreen Target: +8% 4% 3% United States Specialty Products5% International8%
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49 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference 3% Germany 34% 27% Canada Global Markets Group International 2024 Net Sales: GMG & 7 Subsidiaries 49 6% France 8% Mexico 7% Australia 12% UK 2024 International Net Sales ~$1.1B 3% Japan
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50 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference 8.1% 10.0% 7.8% 7.8% 9.2% 8.6% 5.0% 2.8% 8.5% 9.0% 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 International Consumer Organic Sales Performance Organic sales growth is a non-GAAP measure. Refer to the Appendix for a reconciliation to the most directly comparable GAAP measure.
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51 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference Top 10 CPG Company AVG% Church & Dwight % of U.S. Domestic Sales 41% 82% % of International Sales 59% 18% Geographic Expansion….International Runway Ahead
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52 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference U.S. Brand and Leveraging NPD International OTC & Personal Care Brands Consumers Love that Travel the Globe 52 Acquisition Acceleration and Rapid Global Expansion
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53 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference 2 Recent Acquisitions in 50+ countries by the end of 2025
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54 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference Investing for Growth in International • Acquired Graphico in Japan • Implemented a Global ERP System • Widened Regulatory & IT Infrastructure • Expanded Offices in Panama, China and Singapore • Rapidly expanded acquisitions (Hero & TheraBreath) • Added M&A International Resources
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CHURCH & DWIGHT CO., INC. SPECIALTY PRODUCTS
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56 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference 4% International8% SPD Organic Sales Evergreen Target: +5% 3% United States Specialty Products5%
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57 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference Specialty Products Division (SPD) 57 59% 34% Specialty Chemicals Animal Nutrition 2024 SPD Net Sales ~$300MM 7% Commercial & Professional
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58 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference Animal Nutrition: Growing International Presence International Organic Sales <6% 28% 2015 2024 +7% Organic Sales Growth vs 2023
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59 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference SPD Organic Sales 5.3% -3.4% -3.3% 0.4% 12.0% 3.7% -7.9% 7.1% 2017 2018 2019 2020 2021 2022 2023 2024 Portfolio Strategy Global Expansion – Eurasia & LATAM Divested Non- Strategic Assets Marketing & Innovation
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60 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference We Remain Confident in our Future Despite a Volatile Environment 60 We have a balanced portfolio We are driving share gains across most of our brands Our latest acquisition brings opportunities for growth Our online channel is experiencing steady growth Innovation remains a key driver of success We are seeing strong international performance Confident about the strength of our evergreen model
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CHURCH & DWIGHT CO., INC. FINANCIALS
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62 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference Evergreen Model Organic Sales +4% Gross Margin +25 to +50 bps Marketing FLAT %, Higher $ SG&A -25 to 0 bps Operating Margin +50 bps EPS Growth +8% Domestic: 3% International: 8% SPD: 5%
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63 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference Organic Sales Growth: 10 Year History 3.6% 3.2% 2.7% 4.3% 4.4% 9.6% 4.3% 1.4% 5.3% 4.6% 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Organic sales is a non-GAAP measure. Refer to the Appendix for a reconciliation to the most directly comparable GAAP measures. 10 Year Average: 4.3% Evergreen Target: 4.0%
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64 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference Focus On Adjusted Gross Margin 45.5% 45.2% 43.6% 41.9% 44.1% 45.2% 2019 2020 2021 2022 2023 2024 Evergreen Target: +25 to +50 bps
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65 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference Marketing Spend Target 11.7% 11.8% 12.1% 11.1% 10.0% 10.9% 11.4% 2018 2019 2020 2021 2022 2023 2024 Evergreen Target: Flat %, Higher $
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66 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference Return to leverage in line with Evergreen model while making growth investments behind International and Ecommerce Adjusted SG&A Note: Adjusted SG&A is a non-GAAP measure. Refer to the Appendix for a reconciliation to the most comparable GAAP measures. 14.1% 13.6% 13.0% 14.7% 14.9% 2020 2021 2022 2023 2024 Evergreen Target: -25 to 0 bps
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67 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference $1.94 $2.27 $2.47 $2.83 $3.02 $2.97 $3.17 $3.44 2017 2018 2019 2020 2021 2022 2023 2024 Consistent Strong Adjusted EPS Growth Note: Adjusted EPS growth is a non-GAAP measure. Refer to the Appendix for a reconciliation to the most comparable GAAP measures. 9.6% 17.0% 8.8% 14.6% -1.7%6.7% 8.5%6.7% Evergreen Target: +8% CAGR: 8.5%
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68 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference 2025 Financial Backdrop Global Growth Productivity Innovation Brand Investment Consumer Sentiment Category Volatility Tariff Volatility
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69 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference FY 2025 Financial Outlook As of May 1, 2025 Organic Sales Growth 0% to +2% Adjusted Gross Margin -60 bps Marketing % ~11% Adjusted SG&A lower Effective Tax Rate ~23% Adjusted EPS Growth 0% to +2% Cash from Operations ~1.05B
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70 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference Portfolio Changes – Discontinuing or Divesting Three Brands $150 million in combined net sales with below average profitability
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71 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference Tariffs Estimated To Be $190 Million 80% of the tariff impact expected to be mitigated by: • Portfolio changes – Spinbrush, Flawless, Waterpik showerheads • Waterpik waterflosser manufacturing shifted • Supply chain alternatives over the next 12 months Note: As of May 1, 2025.
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72 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference “Best In Class” FCF Conversion 10 Year Average: 119% 129% 131% 126% 123% 126% 125% 116% 97% 103% 115% 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Refer to the Appendix for a reconciliation to the most directly comparable GAAP measures. Elevated Capex
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73 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference Total Debt/Bank EBITDA Strong Balance Sheet 1.6x 0.7x 0.5x 1.4x 1.2x 1.5x 1.4x 1.4x 2.6x 2.2x 1.9x 1.7x 1.9x 2.1x 1.8x 1.5x 1.5x 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025E Note: Total debt/EBITA is a non-GAAP measure. Refer to the Appendix for a reconciliation to the most comparable GAAP measures. Credit Rating: A3/BBB+
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74 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference $2,405 $5,225 $425 Current Debt Outstanding Leverage Capacity Cash & Cash Equivalents • TTM Bank EBITDA = $1,565M • Example: Acquisition EBITDA multiple of 12x Significant Financial Capacity (in $millions) Acquisition Power: $5.6B As of May 1, 2025: Cash is adjusted $650mm for Touchland acquisition, debt adjusted $180mm for the Touchland earnout, TTM EBITDA adjusted $55mm for TTM Touchland EBITDA
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75 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference Prioritized Uses of Free Cash Flow 1 TSR-Accretive M&A Capex for Organic Growth & G2G New Product Development Debt Reduction Return of Cash to Shareholders 2 4 5 3
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76 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference 4% Dividend Increase in 2025 +35% +119% 124 $0.76 $0.87 $0.91 $0.96 $1.01 $1.05 $1.09 $1.13 $1.18 2017 2018 2019 2020 2021 2022 2023 2024 2025E +14.5% consecutive years of dividends +5.2%+5.5%+7.0% +4.6% +4.0% +4.0% +4.0% +4.0% * * Annualized based on dividend declared in Q1 2025
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77 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference We Remain Confident in our Future Despite a Volatile Environment We have a balanced portfolio We are driving share gains across most of our brands Our latest acquisition brings opportunities for growth Our online channel is experiencing steady growth Innovation remains a key driver of success We are seeing strong international performance Confident about the strength of our evergreen model
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Reconciliations www.churchdwight.com
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80 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference The following pages provide definitions of the non-GAAP measures used in this presentation and reconciliations of these non- GAAP measures to the most directly comparable GAAP measures. These non-GAAP financial measures should not be considered in isolation from or as a substitute for the comparable GAAP measures, but rather as supplemental information to more fully understand our business results. The following non-GAAP measures may not be the same as similar measures provided by other companies due to differences in methods of calculation and items and events being excluded. The non-GAAP measures provided are (1) Organic Sales Growth, (2) Adjusted Gross Margin, (3) Adjusted SG&A, (3) Adjusted EPS, (4) Free Cash Flow Conversion, and (5) Debt to Bank EBITDA. We believe these measures provide useful perspective of underlying business trends and results and provide a more comparable measure of year over year results. Reconciliation of Non-GAAP Measures
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81 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference Organic Sales Growth The presentation provides information regarding organic sales growth, namely net sales growth excluding the effect of acquisitions, divestitures and foreign exchange rate changes, from year-over-year comparisons. Management believes that the presentation of organic sales growth is useful to investors because it enables them to assess, on a consistent basis, sales trends related to products that were marketed by the Company during the entirety of relevant periods, excluding the impact of acquisitions, divestitures, and foreign exchange rate changes that are out of the control of, and do not reflect the performance of the Company and management. Reconciliation of Non-GAAP Measures TOTAL COMPANY Year Reported FX Acquisitions & Divestitures Organic 2024 4.1% 0.0% 0.5% 4.6% 2023 9.2% 0.0% -3.9% 5.3% 2022 3.6% 1.0% -3.2% 1.4% 2021 6.0% -0.9% -0.8% 4.3% 2020 12.3% 0.1% -2.8% 9.6% 2019 5.1% 0.5% -1.2% 4.4% 2018 9.8% 0.0% -5.5% 4.3% 2017 8.1% 0.0% -5.4% 2.7% 2016 2.9% 1.2% -0.9% 3.2% 2015 2.9% 2.7% -2.0% 3.6%
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82 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference Reported & Adjusted Non-GAAP Reconciliations 2024 2023 2022 2021 2000 SG&A - Reported 21.0% 15.2% 20.8% 11.7% 12.1% Brazil Charge 0.0% 0.0% 0.0% 0.0% 0.0% Flawless Earnout Adjustment 0.0% 0.0% 0.0% 1.9% 1.9% Flawless Intangible Assets Impairment 0.0% 0.0% -7.7% 0.0% 0.0% Passport Earnout Reversal 0.0% 0.0% 0.0% 0.0% 0.0% Sale of International Brand 0.0% 0.0% 0.0% 0.0% 0.1% Retricted Stock Issued in Hero Acquisition -0.3% -0.5% -0.1% 0.0% 0.0% VMS Asset Impairments -5.8% 0.0% 0.0% 0.0% 0.0% SG&A Adjusted (non-gaap) 14.9% 14.7% 13.0% 13.6% 14.1% For the year ending December 31, Adjusted SG&A Reconciliation This presentation provides information regarding adjusted SG&A, namely, SG&A calculated in accordance with GAAP, as adjusted to exclude significant one-time items that are not indicative of the Company’s period-to-period performance. We believe that this metric provides investors a useful perspective of underlying business trends and results and provides useful supplemental information regarding our year over year SG&A expense.
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83 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference Reconciliation of Non-GAAP Measures Earnings Per Share This presentation discloses reported EPS excluding the following, namely, earnings per share calculated in accordance with GAAP adjusted to exclude significant one-time items that are not indicative of the Company’s period-to-period performance. We believe that this metric provides investors a useful perspective of underlying business trends and results and provides useful supplemental information regarding our year-over-year earnings per share growth. The excluded items are as follows: 2024: Excludes a $1.10 VMS impairment charge, a $0.08 charge related to restricted stock issued in the HERO acquisition and a ($0.11) benefit from tariff refunds 2023: Excludes a $0.12 charge related to restricted stock issued in the HERO acquisition. 2022: Excludes a $1.26 FLAWLESS impairment charge and a $0.03 charge related to restricted stock issued in the HERO acquisition. 2021: Excludes a $0.30 per share positive impact from the FLAWLESS acquisition earn-out estimate. 2020: Excludes a $0.28 per share positive impact from the FLAWLESS acquisition earn-out estimate and a $0.01 per share positive impact from the gain on sale of an international brand. 2019: Excludes a $0.02 positive impact from an earn-out reversal from the acquisition of Passport Food Safety Solutions, Inc., $0.03 negative impact from the loss on the sale of the consumer Brazil business, and $0.02 negative impact from the FLAWLESS acquisition earn-out estimate. 2017: Excludes a ($0.12 per share) charge associated with the settlement of a foreign pension plan, a ($0.01 per share) charge associated with the sale of the Company's chemical business in Brazil, a tax benefit of $0.03 per share from a prior year joint venture impairment charge and a one-time tax benefit (non-cash) of $1.06 per share to adjust deferred tax accounts and reflect deemed repatriation of foreign subsidiary earnings as a result of the Tax Cuts and Jobs Act (TCJA).
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84 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference Reconciliation of Non-GAAP Measures 2024 2023 2022 2021 2020 2019 2018 2017 EPS - Reported 2.37$ 3.05$ 1.68$ 3.32$ 3.12$ 2.44$ 2.27$ 2.90$ Pension Settlement Charge -$ -$ -$ -$ -$ -$ -$ 0.12$ Brazil Charge -$ -$ -$ -$ -$ 0.03$ -$ 0.01$ Joint Venture Impairment Tax Benefit -$ -$ -$ -$ -$ -$ -$ (0.03)$ Tradename and other Asset Impairments 1.10$ -$ -$ -$ -$ -$ -$ -$ Tariff Ruling (0.11)$ -$ -$ -$ -$ -$ -$ -$ U.S. TCIA Tax Reform -$ -$ -$ -$ -$ -$ -$ (1.06)$ Gain on Sale of International Brand -$ -$ -$ -$ (0.01)$ -$ -$ -$ Passport Earn-out Reversal -$ -$ -$ -$ -$ (0.02)$ -$ -$ Flawless Earn-out Adjustment -$ -$ -$ (0.30)$ (0.28)$ 0.02$ -$ -$ Flawless Impairment -$ -$ 1.26$ -$ -$ -$ -$ -$ Hero Restricted Stock 0.08$ 0.12$ 0.03$ -$ -$ -$ -$ -$ EPS - Adjusted (Non-GAAP) 3.44$ 3.17$ 2.97$ 3.02$ 2.83$ 2.47$ 2.27$ 1.94$ For the year ending December 31, Adjusted EPS Reconciliation
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85 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference Reconciliation of Non-GAAP Measures Free Cash Flow Free cash flow (a non-GAAP measure) is defined as cash from operating activities (a GAAP measure) less capital expenditures (a GAAP measure). Management views free cash flow as an important measure because it is one factor in determining the amount of cash available for dividends and discretionary investment. Free Cash Flow as a Percent of Net Income (Free Cash Flow Conversion) Free cash flow as percent of net income is defined as the ratio of free cash flow to net income. Management views this as a measure of how effective the Company manages its cash flow relating to working capital and capital expenditures.
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86 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference Reconciliation of GAAP and Non-GAAP Financial Measures Total Debt to Bank EBITDA Total Debt to Bank EBITDA is a ratio used in our debt agreements. Bank EBITDA (a non-GAAP measure) is a form of adjusted EBITDA, and represents earnings from Income (a GAAP measure), excluding interest income, interest expense, and before income taxes, depreciation, and amortization (EBITDA) and certain other adjustments per the Company’s Credit Agreement. Total Debt is defined as short- and long-term debt as defined by GAAP, plus items that are classified as debt by the Company’s credit agreement. These items include Letters of Credit, Capital and Synthetic Lease Obligations, and certain Guarantees. Management believes the presentation of Total Debt to Bank EBITDA provides additional useful information to investors about liquidity and our ability to service existing debt. 2024 2023 2022 2021 2020 2019 2018 2017 2016 Total Debt as Presented (1) 2,204.6$ 2,406.0$ 2,673.6$ 2,562.9$ 2,163.9$ 2,063.1$ 2,107.1$ 2,374.3$ 1,120.1$ Other Debt per Covenant (2) 40.9 43.4 43.3 35.0 1.5 15.9 56.7 59.2 75.1 Total Debt per Credit Agreement 2,245.5$ 2,449.4$ 2,716.9$ 2,597.9$ 2,165.4$ 2,079.0$ 2,163.8$ 2,433.5$ 1,195.2$ Net Cash from Operations 1,164.4$ 1,039.7$ 885.2$ 993.8$ 990.3$ 864.6$ 763.6$ 681.5$ 655.3$ Interest Paid 94.4 111.9 86.0 51.8 58.8 70.6 74.9 33.3 25.6 Current Tax Provision 176.2 225.6 109.4 204.2 162.2 152.2 139.8 186.9 222.0 Change in Working Capital and other Liabilities (8.3) (9.2) 186.6 95.0 37.3 (33.2) (14.2) (0.8) 30.0 Other Adjustments, Net 91.5 9.2 41.2 31.6 46.2 17.9 - 50.2 (74.4) Adjusted EBITDA (per Credit Agreement) 1,518.2$ 1,377.2$ 1,308.4$ 1,376.4$ 1,294.8$ 1,072.1$ 964.1$ 951.1$ 858.5$ Ratio 1.5 1.8 2.1 1.9 1.7 1.9 2.2 2.6 1.4 Notes: (1)Net of Deferred Financing Costs per ASC 2015-03, "Simplifying the Presentation of Debt Issuance Costs" (2) Includes Letters of Credit, Capital and Synthetic Lease Obligations, Acquisition Liabilities and certain Guarantees.
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87 CHURCH & DWIGHT CO., INC. 2025 Deutsche Bank Conference Total Debt to Bank EBITDA, Continued Total Debt to Bank EBITDA is a ratio used in our debt agreements. Bank EBITDA (a non-GAAP measure) is a form of adjusted EBITDA, and represents earnings from Income (a GAAP measure), excluding interest income, interest expense, and before income taxes, depreciation, and amortization (EBITDA) and certain other adjustments per the Company’s Credit Agreement. Total Debt is defined as short- and long-term debt as defined by GAAP, plus items that are classified as debt by the Company’s credit agreement. These items include Letters of Credit, Capital and Synthetic Lease Obligations, and certain Guarantees. Management believes the presentation of Total Debt to Bank EBITDA provides additional useful information to investors about liquidity and our ability to service existing debt. 2015 2014 2013 2012 2011 2010 2009 Total Debt as Presented (1) 1,050.0$ 1,086.6$ 797.3$ 895.6$ 246.7$ 333.3$ 816.3$ Other Debt per Covenant (2) 83.5 88.0 90.3 79.1 45.9 11.7 16.5 Total Debt per Credit Agreement 1,133.5$ 1,174.6$ 887.6$ 974.7$ 292.6$ 345.0$ 832.8$ Net Cash from Operations 606.1$ 540.3$ 499.6$ 523.6$ 437.8$ 428.5$ 400.9$ Interest Paid 29.0 25.7 26.4 9.7 9.2 29.3 35.6 Current Tax Provision 201.0 198.3 192.3 179.5 125.6 108.7 125.6 Excess Tax Benefits on Option Exercises 15.8 18.5 13.1 14.6 12.1 7.3 5.0 Change in Working Capital and other Liabilities (38.6) (13.5) 16.1 (75.4) 11.0 (31.6) (35.4) Adjustments for Significant Acquisitions/Dispositions (net) - - - 46.8 3.9 6.8 (22.9) Adjusted EBITDA (per Credit Agreement) 813.3$ 769.3$ 747.5$ 698.8$ 599.6$ 549.0$ 508.8$ Ratio 1.4 1.5 1.2 1.4 0.5 0.7 1.6 Notes: (1)Net of Deferred Financing Costs per ASC 2015-03, "Simplifying the Presentation of Debt Issuance Costs" (2) Includes Letters of Credit, Capital and Synthetic Lease Obligations, Acquisition Liabilities and certain Guarantees.