UPDATE: Clorox Posts Upbeat FQ2 Profit, Lifts Full-Year Forecast

Clorox Co

reported a 17% rise in its fiscal second-quarter earnings. Clorox now expects full-year earnings of $4.25 to $4.35 per share and sales to rise 3% to 5%, versus its earlier view of 2% to 4% sales growth. Clorox's quarterly profit surged to $123 million, or $0.93 per share, from $105 million, or $0.79 per share, in the year-ago period. Its sales rose 8.5% to $1.33 billion. However, analysts were expecting earnings of $0.81 per share on revenue of $1.27 billion. Its gross margin climbed to 42.5% from 41.5%. Clorox shares closed at $79.16 on Friday.