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The Clorox Company (CLX - Free Report) reported third-quarter fiscal 2017 results, wherein adjusted earnings from continuing operations of $1.31 per share rose 8% year over year and also beat the Zacks Consensus Estimate of $1.30.
The company now expects earnings for fiscal 2017 to be in the range of $5.25–$5.35 per share, reflecting a growth7% - 9%. This compares with previous estimate of $5.23–$5.38 per share.
Earnings Estimate Revision: The Zacks Consensus Estimate for the current fiscal has been trending down in the last 30 days. If we look at Clorox’s performance in the trailing four quarters (excluding the quarter under review), the company has outperformed the Zacks Consensus Estimate by an average of 1.7%.
Revenues: Clorox generated net sales of $1,477 million that climbed 3.6% year over year, marginally missing the Zacks Consensus Estimate of $1,479 million. The year over year increase was backed by solid volume growth, contributions from the RenewLife business and improved prices in the International division, marginally offset by unfavorable mix and higher trade promotion investments to support product innovation.
The company anticipates sales growth of 3%–4% for fiscal 2017. Sales in fiscal 2017 are expected to gain from its RenewLife acquisition, partially offset by currency headwinds.
Check back later for our full write up on Clorox’s earnings report!
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Clorox (CLX) Beats on Q3 Earnings, Updates View
The Clorox Company (CLX - Free Report) reported third-quarter fiscal 2017 results, wherein adjusted earnings from continuing operations of $1.31 per share rose 8% year over year and also beat the Zacks Consensus Estimate of $1.30.
The company now expects earnings for fiscal 2017 to be in the range of $5.25–$5.35 per share, reflecting a growth7% - 9%. This compares with previous estimate of $5.23–$5.38 per share.
Earnings Estimate Revision: The Zacks Consensus Estimate for the current fiscal has been trending down in the last 30 days. If we look at Clorox’s performance in the trailing four quarters (excluding the quarter under review), the company has outperformed the Zacks Consensus Estimate by an average of 1.7%.
Clorox Company (The) Price and EPS Surprise
Clorox Company (The) Price and EPS Surprise | Clorox Company (The) Quote
Revenues: Clorox generated net sales of $1,477 million that climbed 3.6% year over year, marginally missing the Zacks Consensus Estimate of $1,479 million. The year over year increase was backed by solid volume growth, contributions from the RenewLife business and improved prices in the International division, marginally offset by unfavorable mix and higher trade promotion investments to support product innovation.
The company anticipates sales growth of 3%–4% for fiscal 2017. Sales in fiscal 2017 are expected to gain from its RenewLife acquisition, partially offset by currency headwinds.
Zacks Rank: Currently, Clorox carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back later for our full write up on Clorox’s earnings report!
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
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