Church & Dwight Co Inc at Deutsche Bank dbAccess Global Consumer Conference Summary

The following is excerpted from the question-and-answer section of the transcript.

Question: Steve Powers - Deutsche Bank - Analyst : Great. Thank you very much. As Rick said, I know you guys have been traveling around Europe the past week as advice and the number one question, I've gotten and I think every meeting is what's going on with the US consumer? Is it resilience? Is it slipping? What's your perspective?

Question: Steve Powers - Deutsche Bank - Analyst : Okay. We'll spend a lot of observation QSR restaurants investing in menu pricing. We've heard announcements from Wal-Mart from target from Amazon, about investments back into consumables categories. Which has promised conversations, are we going to end up in some promotional deflationary environment to stimulate volume growth? What's your perspective on that? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JUNE 04, 2024 / 9:15AM, CHD.N - Church & Dwight Co Inc at Deutsche Bank dbAccess Global Consumer Conference

Question: Steve Powers - Deutsche Bank - Analyst : Okay, great. And maybe you could have gotten this question two, just a clarification of what we're seeing in the consumption data versus how you've got. You've guided the quarter essentially out to 100%, the current quarter to 100% volume algorithm that some of the outlook from here, the consumption data we're seeing is still showing some price flow through some price mix flow through. Is how do we interpret that as or disconnect? Richard Dierker - Church & Dwight Co Inc - Chief Financial Officer, Executive Vice President, Head of Business Operations Yeah, I'll take it, Steve. I think in general, the majority of growth organically will be from volume for this quarter for next quarter for the quarter after quarter. That's our outlook is there going to be some slight care like carryover from price and still is going to be slight positive mix impact sure. Like the predominant growth was from volume.

Question: Steve Powers - Deutsche Bank - Analyst : Pivoting back to the US, two categories you mentioned, but didn't drill into laundry and litter. They've been strong. Maybe you're actually seeing some share acceleration from for Church & Dwight, sure. And a positive sense, share gains. Just perspective on recent strength and you've had good innovation success in both those. Maybe just highlight how the response to recent product introductions has been?

Question: Steve Powers - Deutsche Bank - Analyst : And investors are always watching that competitive dynamic in both categories. What's your sense of relative overused word rationality of competition?

Question: Steve Powers - Deutsche Bank - Analyst : The [as we went to] the seven power brands and the relative rates of how one red spot in that red green scorecard was vitamins, which is not a surprise. It's been an issue, but struggle from both from a category perspective, end of the competitive position. So where are we today? Both from a category recovery perspective and with your businesses positioning within.

Question: Steve Powers - Deutsche Bank - Analyst : Okay. Great. now you went through a number of reinvestment priorities, capability, investments, advertising, eCommerce, analytics, R&D investment feels pretty full right now, pretty healthy across the board. If you think about where the next dollar goes, you have, how you prioritize investment across those buckets or anything like that? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JUNE 04, 2024 / 9:15AM, CHD.N - Church & Dwight Co Inc at Deutsche Bank dbAccess Global Consumer Conference

Question: Steve Powers - Deutsche Bank - Analyst : Okay. And on that, maybe I'll ask what -- so, Mike, your perspective on how hard you have to fight for capital relative to the US priorities. Do you feel like the business has got that right, that you're getting the funding you need and et cetera, (multiple speakers) blank check here?

Question: Steve Powers - Deutsche Bank - Analyst : Okay. M&A priority, priority number one for free cash flow, free cash flow outlook, Rick, how you feel and about how you're assessing the M&A backdrop (multiple speakers) [billion dollars] of cash flow outlook? Richard Dierker - Church & Dwight Co Inc - Chief Financial Officer, Executive Vice President, Head of Business Operations Yeah, look at cash flow, CFO is a [$1.50 billion] as our outlook. And then we have a couple more let's come (technical difficulties) [$100 million] in CapEx. So $800 million of free cash flows pretty style. And we're looking for destinations to the plant.

Question: Steve Powers - Deutsche Bank - Analyst : And as you mentioned, there's investments to bolster the capability to search or enter their options overseas. Is that is that more a function of that you see the market more conducive to deals externally or more function that Church & Dwight's now ready to do those deals have yet weighted?

Question: Steve Powers - Deutsche Bank - Analyst : Where you weren't before?

Question: Steve Powers - Deutsche Bank - Analyst : With that clock just said zero.