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%.
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…