Shares of household products maker Church & Dwight Co., Inc. (CHD) were falling more than 7% Friday morning to trade at $88.77.
The company provided third quarter EPS outlook of $0.65 per share, a 19% decrease from last year, impacted by inflation, higher expected SG&A and promotional support.
Analysts, on average, expect the company to report earnings of $0.86 per share.
For the full year, Church & Dwight expects sales growth to be approximately 4% to 5% compared with previous outlook of 5% to 8%. The consensus estimate stands at 6.4% growth.
Net income in the second quarter declined to $187.1 million or $0.76 per share from $218.3 million or $0.87 per share in the same quarter a year ago.
Net sales for the quarter increased to $1.325 billion from $1.271 billion last year.
Analysts expect the company to report earnings of $0.72 per share on revenue of $1.34 billion.
CHD has traded in the range of $80.34-$105.28 in the past 52 weeks.
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