Church & Dwight Co., Inc. stock research
FY2023 Q4
Church & Dwight (CHD) Gross Margin — Quarter Ended Dec 31, 2023
Revenue in the current quarter was similar to the previous quarter and higher than the same quarter last year. Gross profit increased relative to both periods, resulting in an improved gross margin.
Gross margin takeaway
Quarter ended Dec 31, 2023 · FY2023 Q4
Revenue in the current quarter was similar to the previous quarter and higher than the same quarter last year. Gross profit increased relative to both periods, resulting in an improved gross margin.
- The strongest observable driver of the margin improvement was the increase in gross profit, which grew faster than revenue compared to the prior year. Versus the prior quarter, gross profit rose while revenue remained stable, contributing to a modest margin expansion.
- Compared to the immediately preceding quarter, revenue was essentially unchanged, cost of revenue was higher, gross profit was higher, and gross margin improved slightly. Compared to the same quarter one year earlier, revenue, cost of revenue, and gross profit were all higher, with gross margin showing a notable improvement.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
44.6%
Gross profit
$681.3M
Revenue
$1.5B
Cost of revenue
$846.7M
Quarter-over-quarter change
+0.2 pts
Year-over-year change
+2.6 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Mar 31, 2023 | $1.4B | $622.0M | $807.8M | 43.5% |
| Jun 30, 2023 | $1.5B | $638.9M | $815.3M | 43.9% |
| Sep 30, 2023 | $1.5B | $646.3M | $809.6M | 44.4% |
| Dec 31, 2023 | $1.5B | $681.3M | $846.7M | 44.6% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Sep 30, 2023
+0.2 pts
Year-over-year change
Dec 31, 2022
+2.6 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable driver of the margin improvement was the increase in gross profit, which grew faster than revenue compared to the prior year. Versus the prior quarter, gross profit rose while revenue remained stable, contributing to a modest margin expansion.
Compared to the immediately preceding quarter, revenue was essentially unchanged, cost of revenue was higher, gross profit was higher, and gross margin improved slightly. Compared to the same quarter one year earlier, revenue, cost of revenue, and gross profit were all higher, with gross margin showing a notable improvement.
Monitor the trend in cost of revenue, as it increased from both the prior quarter and the year-ago period.