The Clorox Company (CLX) came up with fourth-quarter fiscal 2015 results, wherein earnings of $1.38 per share rose 6.2% year over year. Including the impact of sale of assets, quarterly earnings surged 11% to $1.44 per share. Further, the bottom-line beat the Zacks Consensus Estimate of $1.36.
Management provided its outlook for fiscal 2016, wherein it anticipates sales growth of flat to up 1% and adjusted earnings in the range of $4.68 to $4.83 per share. Currency-neutral sales growth is expected in the range of 3% to 4%.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2015 has trended upward over the last 30 days. 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 3.6%.
Revenues: Clorox generated net sales of $1,557 million that climbed 4% year over year and surpassed the Zacks Consensus Estimate of $1,520 million. The increase was backed by solid volume growth and price increases, offset by currency headwinds. On a currency-adjusted basis, sales were up 6%.
Zacks Rank: Currently, Clorox carries a Zacks Rank #2 (Buy) which is subject to change following the earnings announcement.
Stock Movement: Clorox’s shares are down 0.8% during pre-market trading hours following the earnings release. Investors remain cautious as the company expects its results for fiscal 2016 to be impacted by negative currency headwinds and slowing international economies.
Check back later for our full write up on Clorox’s earnings report!
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