UPDATE: Clorox Posts Upbeat FQ2 Profit, Lifts Full-Year Forecast
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.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.