Karen Wolfe's questions to Church & Dwight Co Inc (CHD) leadership • Q1 2025
Question
Karen Wolfe questioned what had changed to alter the company's expectation that retailer destocking from Q1 would recover. She also asked for updated thoughts on the M&A environment, particularly regarding international assets.
Answer
Executive Richard Dierker explained that the continued consumer pullback and tariff uncertainty have made retailers hesitant to rebuild inventory levels, leading to the revised outlook. On M&A, he reaffirmed that it remains the company's top priority for capital allocation and that they are actively looking for the right acquisitions, including international bolt-ons that can serve as a platform for bringing other brands into new markets.