Clorox (CLX) Tops Q3 EPS by 22c, FY EPS Guidance Tops Consensus
Clorox (NYSE: CLX) reported Q3 EPS of $1.89, $0.22 better than the analyst estimate of $1.67. Revenue for the quarter came in at $1.78 billion versus the consensus estimate of $1.71 billion.
"Our hearts go out to everyone who has been affected by the COVID-19 pandemic. We're privileged to be in a position to serve the public health during this time," said Chair and CEO Benno Dorer. "Our commitment to doing everything we can to support consumers, healthcare facilities and communities is reflected in our strong third-quarter financial results."
Dorer added: "Beyond the extraordinary growth in our disinfecting products, we saw broad-based growth across all four segments as our portfolio is uniquely positioned to serve consumers in this unprecedented time. Importantly, our business was on track to deliver growth for the back half of the fiscal year in line with our expectations, even ahead of the pandemic. With a portfolio that's been relatively resilient during past recessions, the heightened importance of disinfecting products in consumers' lives and strong future investments in our IGNITE strategy, we're optimistic about our ability to continue to perform well even in what's expected to be a challenging economic environment."
GUIDANCE:
Clorox sees FY2020 EPS of $6.70-$6.90, versus the consensus of $6.57.
- 4% to 6% sales growth (6% to 8% organic sales growth)
For earnings history and earnings-related data on Clorox (CLX) click here.
