The Clorox Company CLX reported second-quarter fiscal 2018 results, wherein adjusted earnings from continuing operations of $1.77 per share rose 55.3% year over year and also beat the Zacks Consensus Estimate of $1.22.
The company expects earnings for fiscal 2018 to be in the range of $6.17–$6.37 per share compared to of the previous guidance of $5.47-$5.67. The raised view is expected to include benefit of 70-75 cents from the new tax reform.
Earnings Estimate Revision: The Zacks Consensus Estimate for the current fiscal has been stable in the last 30 days. If we look at Clorox’s performance in the trailing four quarters (excluding the quarter under review), the company has underperformed the Zacks Consensus Estimate by an average of 2.4%.
Clorox Company (The) Price and Consensus
Clorox Company (The) Price and Consensus | Clorox Company (The) Quote
Revenues: Clorox generated net sales of $1,416 million that climbed 0.7% year over year but missed the Zacks Consensus Estimate of $1,430 million. The top line growth was driven by gains across the International, Lifestyle and Cleaning segments, backed by increased prices. This was partly offset by unfavorable mix.
The company anticipates sales growth of 1%–3% for fiscal 2018.
Zacks Rank: Currently, Clorox carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back later for our full write up on Clorox’s earnings report!
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