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

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UPDATE: Citi Downgrades The Clorox Co
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Clorox Co (NYSE: CLX) 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.

Posted-In: profitEarnings News Guidance

 

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