CHD · 10-Q · 2026Q3 · Full report
Operating Expense Trends
CHURCH & DWIGHT CO INC /DE/ · 2026-10-30 · Importance 31 · Surprise 32 · No source text
Third-quarter marketing expense fell 6.0% to $190.7 million, reducing its share of sales by 90 basis points to 11.9%; nine-month marketing expense was down 0.2% to $495.4 million. Third-quarter SG&A increased 4.0% to $267.3 million, or 16.7% of sales, with the increase driven by Miss Mouth’s expenses, growth investments, e-commerce and international spending, and higher incentive compensation. Nine-month SG&A increased 8.1% to $770.5 million, and its share of sales rose 110 basis points to 16.7%. The nine-month increase included 130 basis points of higher intangible amortization from the Touchland and Miss Mouth’s acquisitions, as well as investments in growth initiatives, e-commerce, technology, and international business.
Key facts
- Third-quarter 2026 marketing expense was $190.7 million, down $12.2 million or 6.0% year over year; marketing as a share of sales fell 90 basis points to 11.9%. source
- Marketing expense for the first nine months of 2026 was $495.4 million, down $1.2 million or 0.2%; its share of sales fell 10 basis points to 10.8%. source
- Third-quarter 2026 SG&A expense was $267.3 million, up $10.4 million or 4.0%, and increased 50 basis points as a share of sales to 16.7%. source
- First-nine-month 2026 SG&A expense was $770.5 million, up $57.7 million or 8.1%, and increased 110 basis points as a share of sales to 16.7%. source
- The Company estimates intangible amortization expense of approximately $142.0 million in the disclosed upcoming period and approximately $149.0 million declining to $135.0 million annually over the next five years. source
- The Company intends to invest IEEPA tariff refund proceeds in consumer-facing activities and use them to offset inflationary pressures. source
- Third-quarter SG&A as a percentage of sales included 70 basis points of higher expense from Miss Mouth's, growth and e-commerce/international investments and incentive compensation, offset by 20 basis points of sales leverage. source
- First-nine-month SG&A as a percentage of sales included 130 basis points of higher intangible amortization from the Touchland and Miss Mouth's acquisitions, along with growth, e-commerce, technology and international investments and higher incentive compensation, offset by 20 basis points of sales leverage. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | negative | committed | -7.5% | The Company estimates intangible amortization expense of approximately $142.0 million in the disclosed upcoming period and approximately… |
| operating_income | negative | realized | -3.6% | First-nine-month 2026 SG&A expense was $770.5 million, up $57.7 million or 8.1%, and increased 110 basis points as a share of sales to… |
| margin | negative | realized | -1.1% | First-nine-month 2026 SG&A expense was $770.5 million, up $57.7 million or 8.1%, and increased 110 basis points as a share of sales to… |
| margin | positive | realized | +0.9% | Third-quarter 2026 marketing expense was $190.7 million, down $12.2 million or 6.0% year over year; marketing as a share of sales fell 90… |
| operating_income | positive | realized | +0.8% | Third-quarter 2026 marketing expense was $190.7 million, down $12.2 million or 6.0% year over year; marketing as a share of sales fell 90… |
| operating_income | negative | realized | -0.7% | Third-quarter 2026 SG&A expense was $267.3 million, up $10.4 million or 4.0%, and increased 50 basis points as a share of sales to 16.7%. |
| margin | negative | realized | -0.5% | Third-quarter 2026 SG&A expense was $267.3 million, up $10.4 million or 4.0%, and increased 50 basis points as a share of sales to 16.7%. |
| margin | positive | realized | +0.1% | Marketing expense for the first nine months of 2026 was $495.4 million, down $1.2 million or 0.2%; its share of sales fell 10 basis points… |
| operating_income | positive | realized | +0.1% | Marketing expense for the first nine months of 2026 was $495.4 million, down $1.2 million or 0.2%; its share of sales fell 10 basis points… |
| operating_income | negative | contingent | — | The Company intends to invest IEEPA tariff refund proceeds in consumer-facing activities and use them to offset inflationary pressures. |
| operating_income | positive | contingent | — | The Company intends to invest IEEPA tariff refund proceeds in consumer-facing activities and use them to offset inflationary pressures. |