Clorox (CLX) Benefits In Q1 From H1N1 Fears (Update)
CLX Hot Sheet
Revenue Growth %: +7.7%Financial Fact:
Net earnings: 132M
Today's EPS Names:
ZLC, GILT, LTXC, More
(Update with comments from analysts )
Clorox (NYSE: CLX) reported a first quarter EPS of $1.11, 6 cents ahead of the market estimate of 95 cents per share. Revenue for the quarter was $1.4 billion, slightly above the market consensus of $1.37 billion.
The company had showed strong sales of cleaning products as consumers try to ward off the H1N1 virus. The sales allowed Clorox to post a third consecutive quarter of growth.
"We had a great first quarter, especially given the continued challenging economic environment and the impact of weaker foreign currencies," said Clorox Chairman and CEO, Don Knauss. "Most of our businesses performed well, and we exceeded our earnings expectations due to strong sales of disinfecting products related to the H1N1 flu pandemic."
The company showed a profit of $157 million in the third quarter, or $1.11 earnings per share. This compares to the $128 million, or 90 cents per share that Clorox earned in the year-ago quarter. This showed an increase of 23 percent for the company.
The company raised its full-year guidance to an EPS of $4.05 to $4.20, up from $4.00 to $4.15.
Analyst Comments:
Deutsche Bank analysts have maintained a Buy rating on Clorox, along with a price target of $66. The analysts cite that the Company is using the opportunity from H1N1 prevention to reinvest in the business to drive sustainable growth and optimize its operations.
Analysts at Goldman Sachs have maintained a Neutral rating for Clorox noting that that company saw growth in the previous two quarters and the reaction to the stock was relatively muted. Goldman Sachs sees a modestly positive reaction to the stock today following the results.
Clorox is currently trading up 0.20 percent at $59.35.
Clorox (NYSE: CLX) reported a first quarter EPS of $1.11, 6 cents ahead of the market estimate of 95 cents per share. Revenue for the quarter was $1.4 billion, slightly above the market consensus of $1.37 billion.
The company had showed strong sales of cleaning products as consumers try to ward off the H1N1 virus. The sales allowed Clorox to post a third consecutive quarter of growth.
"We had a great first quarter, especially given the continued challenging economic environment and the impact of weaker foreign currencies," said Clorox Chairman and CEO, Don Knauss. "Most of our businesses performed well, and we exceeded our earnings expectations due to strong sales of disinfecting products related to the H1N1 flu pandemic."
The company showed a profit of $157 million in the third quarter, or $1.11 earnings per share. This compares to the $128 million, or 90 cents per share that Clorox earned in the year-ago quarter. This showed an increase of 23 percent for the company.
The company raised its full-year guidance to an EPS of $4.05 to $4.20, up from $4.00 to $4.15.
Analyst Comments:
Deutsche Bank analysts have maintained a Buy rating on Clorox, along with a price target of $66. The analysts cite that the Company is using the opportunity from H1N1 prevention to reinvest in the business to drive sustainable growth and optimize its operations.
Analysts at Goldman Sachs have maintained a Neutral rating for Clorox noting that that company saw growth in the previous two quarters and the reaction to the stock was relatively muted. Goldman Sachs sees a modestly positive reaction to the stock today following the results.
Clorox is currently trading up 0.20 percent at $59.35.
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