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The Clorox Company (NYSE:CLX) reported net income above Wall Street’s expectations for the second quarter. Net income from continuing operations for the housewares and accessories company rose to $105 million (79 cents per share) vs. $95 million (68 cents per share) in the same quarter a year earlier. Revenue rose 3.6% to $1.22 billion from the year earlier quarter. The Clorox Company beat the mean analyst estimate of 69 cents per share. Analysts were expecting revenue of $1.2 billion.
“We delivered strong second-quarter results,” said Chairman and Chief Executive Officer Don Knauss. “We grew sales for the fourth consecutive quarter. Our U.S. categories continue to recover, and our market share remains healthy. While the economic climate remains challenging, our strategies are working and our people are executing well. I feel good about our plans for the remainder of the fiscal year.”
Competitors to Watch: Zep, Inc. (NYSE:ZEP), The Procter & Gamble Co. (NYSE:PG), Church & Dwight Co., Inc. (NYSE:CHD), Colgate-Palmolive (NYSE:CL), Kimberly-Clark (NYSE:KMB), Ocean Bio-Chem, Inc. (NASDAQ:OBCI), PURE Bioscience (NASDAQ:PURE).
Estee Lauder Companies Inc. (NYSE:EL) reported its results for the second quarter. Net income for the personal products company rose to $396.7 million ($1 per share) vs. $343.9 million (86 cents per share) in the same quarter a year earlier. This marks a rise of 15.4% from the year earlier quarter. Revenue rose 9.9% to $2.74 billion from the year earlier quarter. Estee Lauder Companies Inc. was about in line with expectations as the mean analyst estimate of $1.01 per share. Analysts were expecting revenue of $2.75 billion.
Fabrizio Freda, President and Chief Executive Officer, said, “The Company’s strong second quarter results complete an outstanding first half performance. Our sales and profits this holiday season came in higher than planned and demonstrate the vibrancy of our brand portfolio in solid as well as soft economies. Our results were again broad based across brands, regions, categories and channels. The key drivers of our 10% sales growth were the U.S., China, travel retail and online. Importantly, we continued our consistent gross margin and operating margin improvements.”
Competitors to Watch: Avon Products, Inc. (NYSE:AVP), Alberto-Culver Company (NYSE:ACV), Revlon, Inc. (NYSE:REV), Elizabeth Arden, Inc. (NASDAQ:RDEN), Inter Parfums, Inc. (NASDAQ:IPAR), Nu Skin Enterprises, Inc. (NYSE:NUS), The Procter & Gamble Co. (NYSE:PG), Parlux Fragrances, Inc. (NASDAQ:PARL), Physicians Formula Hldgs., Inc. (NASDAQ:FACE), Johnson & Johnson (NYSE:JNJ) and The Stephan Co. (SPCO).
Tyson Foods Inc. (NYSE:TSN) reported its results for the first quarter. Net income for Tyson Foods Inc. fell to $156 million (42 cents per share) vs. $298 million (78 cents per share) a year earlier. This is a decline of 47.7% from the year earlier quarter. Revenue rose 9.4% to $8.33 billion from the year earlier quarter. Tyson Foods Inc. beat the mean analyst estimate of 33 cents per share. Analysts were expecting revenue of $8.28 billion.
“Even with higher feed ingredient costs, our Chicken segment returned to profitability in the fiscal first quarter on improved pricing and execution,” said Donnie Smith, Tyson’s president and chief executive officer. “Prepared Foods had a strong performance, and the Pork segment continued to produce outstanding results. Our Beef segment is experiencing a rough patch as a result of challenging market fundamentals. Although we are still outperforming industry indexes, if current conditions continue, our Beef results will be pressured in our second quarter.”
Competitors to Watch: Smithfield Foods, Inc. (NYSE:SFD), Hormel Foods Corporation (NYSE:HRL), Sanderson Farms, Inc. (NASDAQ:SAFM), Pilgrim’s Pride Corp. (NYSE:PPC), ZHONGPIN INC. (NASDAQ:HOGS), Diamond Ranch Foods, Ltd. (DRFO), Seaboard Corporation (AMEX:SEB), and Energroup Holdings Corp (ENHD).
To contact the reporter on this story: Derek Hoffman at email@example.com
To contact the editor responsible for this story: Damien Hoffman at firstname.lastname@example.org
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