Church & Dwight Co., Inc. (NYSE:CHD) reported better-than-expected Q4 results and assertive 2022 guidance, opposed to the negative going-in investor positioning. This resulted in share price gains on Friday.

The company delivered strong organic growth (despite supply challenges), a rare gross margin beat, sizable A&P investment (when others are pulling back), and a full set of innovations for the coming year.

According to the analysts at Deutsche Bank, the company is poised to benefit from competitors pushing through pricing in key categories in 2022, and should be well-positioned to benefit from potential trade down (e.g., in the laundry) should consumers seek more value-oriented products in the wake of increasingly widespread inflation.

Furthermore, the analysts believe that headwinds from a stronger USD are less burdensome for the company (as a largely domestic company) than many peers, and the company maintains financial flexibility for additional M&A, should opportunities present themselves.