The Clorox Company (CLX) came up with third-quarter fiscal 2015 results, wherein earnings of $1.08 per share rose 5.3% year over year and missed the Zacks Consensus Estimate of $1.10.
Following the strong third quarter sales results, management raised its fiscal 2015 sales guidance and adjusted the lower end of its previously forecasted earnings range. The company now expects sales growth in the range of 1% to 2%, compared with a 1% growth projected earlier. Meanwhile, earnings per share are now expected in the $4.45 to $4.55 range, versus the previously guided $4.40 to $4.55.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2015 remains unchanged over the last 30 days. However, if we look at Clorox’s performance in the trailing four quarters (including the quarter under review), the company has outperformed the Zacks Consensus Estimate in three quarters, resulting in an average surprise of 4.3%.
Revenues: Clorox generated net sales of $1,401 million that climbed 2.6% year over year and surpassed the Zacks Consensus Estimate of $1,376 million. The increase was backed by strength witnessed at all segments. On a currency-adjusted basis, sales were up 5%.
Zacks Rank: Currently, Clorox carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.
Check back later for our full write up on Clorox’s earnings report!
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