Clorox stories greater earnings and gross sales within the fourth quarter – earnings overview

Written by Dean Seal

Clorox reported stronger earnings and gross sales in its fiscal fourth quarter than analysts anticipated. Here is what you should know:

Revenue: The maker of Pine-Sol and its namesake whitening model reported revenue of $176 million, or $1.42 per share, in comparison with $101 million, or 81 cents per share, in the identical quarter final 12 months.

ADJ Earnings: Adjusted earnings, which excludes one-time objects, got here in at $1.67 a share. Analysts polled by FactSet had anticipated $1.17 a share.

Gross sales: Income jumped to $2 billion from $1.8 billion within the year-ago interval, beating analyst estimates of $1.88 billion, in accordance with FactSet.

What we noticed

Pricing: The Firm’s gross sales development was largely pushed by greater costs, which offset decreases in quantity and unfavorable alternate charges. Clorox and different house items makers mentioned they’re utilizing greater costs to handle ongoing value inflation. As discretionary spending tightens, rising costs are driving down buying and selling volumes for some corporations.

Prices: Clorox’s margins benefited from greater costs and cost-saving initiatives, which had been used within the second quarter to offset greater commodity prices and better manufacturing and logistics prices.

Outlook: The Oakland, California-based firm mentioned it expects gross sales to be secure or up 2% this 12 months, and to extend 2% to 4% on an natural foundation. Adjusted earnings at the moment are anticipated at $5.60 to $5.90 per share, up from prior steerage of $4.35 to $4.50 per share.

Shares: The inventory rose 6.7% to $162.70 in aftermarket buying and selling.

Write to Dean Seal at dean.seal@wsj.com

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