Clorox Earnings: Strong Quarterly Results Climb Past Analyst Estimates

Clorox Corporation (NYSE:CLX) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.28%.

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Clorox Corporation Earnings Cheat Sheet

Results: Net income increased 17.14% to $123 million (93 cents per diluted share) in the quarter versus a net gain of $105 million in the year-earlier quarter.

Revenue: Rose 8.93% to $1.33 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Clorox Corporation reported adjusted net income of 93 cents per share. By that measure, the company beat the mean analyst estimate of $0.81. It beat the average revenue estimate of $1.27 billion.

Quoting Management: “I’m extremely pleased with our second-quarter results,” said Chairman and CEO Don Knauss. “We had strong year-over-year sales growth, as well as another quarter of gross margin expansion, which is a testament to our focus on delivering profitable growth…

…Based on our 5 percent sales growth and 10 percent EPS growth in the first half of the fiscal year, we feel more optimistic about our full-year outlook.”

Key Stats:

Revenue decreased 0.6% from $1.34 billion in the previous quarter. Net income decreased 7.52% from $133 million in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $1.12 to a profit $1.1. For the current year, the average estimate has moved up from a profit of $4.29 to a profit of $4.31 over the last ninety days.

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(Company fundamentals provided by Xignite Financials.)