Church & Dwight Co, Inc. (CHD) Q4 2022 Earnings Call Transcript

Church & Dwight Co, Inc. (NYSE:CHD) Q4 2022 Results Conference Call February 3, 2023 1:00 PM ET

Company Participants

Richard Dierker - CFO, EVP & Head of Business Operations

Barry Bruno - Head of Marketing

Surabhi Pokhriyal - Chief Digital Growth Officer

Michael Read - Senior Key Executive

Matthew Farrell - President, CEO & Chairman

Paul Wood - Chief Commercial Officer

Rick Spann - Executive VP

Conference Call Participants

Kevin Grundy - Jefferies

Rupesh Parikh - Oppenheimer

Lauren Lieberman - Barclays

Olivia Cheang - Raymond James

Mark Astrachan - Stifel

Jonathan Feeney - Consumer Edge Research, LLC

Anna Lizzul - Bank of America

Filippo Falorni - Citi

Christopher Carey - Wells Fargo

Stephen Powers - Deutsche Bank

Andrea Teixeira - JPMorgan

Peter Grom - UBS Investment

Matthew Farrell

I'll call everybody to attention. Hey, we haven't been together for a few years. The last number were down here was January of 2020. So it's been three years. It's really great to see so many familiar faces in the room. We've got a great show for you today. I'm going to start off with the safe harbor statement. I encourage everybody to read that when you have some time. And here's who is here from management today, which have virtually the entire management team. So when we're done with the presentation, everybody will come on up, fill the stage, and then we can do Q&A.

All right. We've got a pretty packed agenda. Some of it will be familiar to you, but these are all the things we think we want you to walk out of the room knowing more than when you walked in the room. All right. So, I want to start with a look back at 2022. So, as you all know, we had significant inflation this past year. We had $250 million of increases in COGS year-over-year '22 versus '21.

And how we reacted to that, we increased prices both in '21 and in '22. And in some cases, we raised prices more than once. You saw that in laundry and also on litter. We have really great success this year with several of our brands. As you can see on the page here, ARM & HAMMER litter laundry detergent and BATISTE at all-time highs, racked shares.

And then if you look at some of our more recent acquisitions, and that would be ZICAM THERABREATH and HERO acquired in 2020, '21 and '22, all had double-digit growth and all-time high market shares. And then finally, we know we've experienced a black swan event over the past few years. We know there'll be others in the future. So, we've done a lot of work in '21 and '22, spent a lot of money, a lot of effort getting ready for the next one. And then finally, we ended the year strong.