Clorox Stock Climbs After Q2 Results, Strong Forward Guidance

Clorox Company CLX shares are up after the company reported its second-quarter financial results Thursday. Here's a look at the key figures from the report.

The Details: Clorox reported quarterly earnings of $1.82 per share which beat the analyst consensus estimate of $1.56 by 16.67%. Quarterly sales clocked in at $1.903 billion, missing the analyst consensus estimate by 2.46% and representing a 5.75% decrease from the same period last year.

Clorox said the net sales decreased was driven largely by the impacts of the Argentina divestiture, unfavorable price mix and lower volume.

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“We closed out the fiscal year with strong margin expansion and double-digit adjusted EPS growth despite substantial disruption and consumption loss from the cyberattack,” said Clorox CEO Linda Rendle.

“While fully restoring supply and distribution, as well as recovering nearly all of our market share, we remained relentless in driving our IGNITE strategy forward. We made strong progress as we evolved our portfolio to accelerate profitable growth, completed the implementation of our streamlined operating model and advanced our digital transformation.”

Outlook: Clorox sees fiscal year earnings between $6.55 and $6.80 per share, versus the $6.45 estimate.

CLX Price Action: According to Benzinga Pro, Clorox shares are up 4.37% after-hours at $140 at the time of publication Thursday.

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