Start Time: 10:00 January 1, 0000 11:02 AM ET
Church & Dwight Co., Inc. (NYSE:CHD)
Q2 2024 Earnings Conference Call
August 02, 2024, 10:00 PM ET
Company Participants
Matt Farrell - President, Chairman and CEO
Rick Dierker - EVP and CFO
Conference Call Participants
Rupesh Parikh - Oppenheimer
Chris Carey - Wells Fargo
Bonnie Herzog - Goldman Sachs
Peter Grom - UBS
Steve Powers - Deutsche Bank
Dara Mohsenian - Morgan Stanley
Lauren Lieberman - Barclays
Kaumil Gajrawala - Jefferies
Andrea Teixeira - JPMorgan
Filippo Falorni - Citi
Kevin Grundy - BNP Paribas
Olivia Tong - Raymond James
Jon Keypour - Bank of America
Javier Escalante - Evercore
Robert Moskow - TD Cowen
Mark Astrachan - Stifel
Operator
Good morning, ladies and gentlemen, and welcome to Church & Dwight's Second Quarter 2024 Earnings Conference Call.
Before we begin, I've been asked to remind you that on this call, the company's management may make forward-looking statements regarding, among other things, the company's financial objectives and forecasts. These statements are subject to risks and uncertainties and other factors that are described in detail in the company's SEC filings.
I would now like to introduce your host for today's call, Mr. Matt Farrell, Chairman, President and Chief Executive Officer of Church & Dwight. Please go ahead, sir.
Matt Farrell
Good morning, everyone. Thanks for joining us today. I'll begin with a review of the Q2 results. And then I'll turn the call over to Rick Dierker, who's our CFO and Head of Business Operations. And when Rick is done, we'll open up the call for questions. So Q2 was another solid quarter for Church & Dwight. Reported sales growth was 3.9%, which beat our outlook of 3.5% and that was thanks to strong results across the board from domestic, international and Specialty Products.
Organic sales grew 4.7%, which exceeded our 4% Q2 outlook with volume accounting for a very healthy 3.5% of our growth. Adjusted gross margin expanded 150 basis points. At the same time, we increased marketing spending, and we gained market share in the majority of our categories.
Adjusted EPS was $0.93, which was $0.10 higher than our $0.83 outlook. That was a quality quarter, and Rick will take you through that later. The results were driven by higher than expected sales growth and gross margin expansion. And we continue to grow in the online class of trade with online sales as a percentage of global sales now reaching 21.2%.