The Clorox Company (CLX - Free Report) reported second-quarter fiscal 2017 results, wherein adjusted earnings from continuing operations of $1.25 per share rose 9.6% year over year and also beat the Zacks Consensus Estimate of $1.14.
The company now expects earnings for fiscal 2017 to be in the range of $5.23–$5.38 per share in comparison to previous estimate of $5.23–$5.43 per share. The company’s recent guidance includes 5 cent decrease in anticipated benefit from adopting Accounting Standards Update (ASU) 2016-09.
Earnings Estimate Revision: The Zacks Consensus Estimate has been trending down going into the earnings release. 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 3.2%.
Revenues: Clorox generated net sales of $1,406 million that climbed 4.5% year over year, marginally surpassing the Zacks Consensus Estimate of $1,405 million. The 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 currency headwinds. On a currency-adjusted basis, sales were up 6%.
The company now anticipates sales growth of 3%–4% for fiscal 2017, up from the previous guidance of 2% to 4%. The company continues to anticipate currency-neutral sales growth expected in the range of 4%–6%. 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!
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The Clorox Company (CLX - Free Report) reported second-quarter fiscal 2017 results, wherein adjusted earnings from continuing operations of $1.25 per share rose 9.6% year over year and also beat the Zacks Consensus Estimate of $1.14.
The company now expects earnings for fiscal 2017 to be in the range of $5.23–$5.38 per share in comparison to previous estimate of $5.23–$5.43 per share. The company’s recent guidance includes 5 cent decrease in anticipated benefit from adopting Accounting Standards Update (ASU) 2016-09.
Earnings Estimate Revision: The Zacks Consensus Estimate has been trending down going into the earnings release. 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 3.2%.
Revenues: Clorox generated net sales of $1,406 million that climbed 4.5% year over year, marginally surpassing the Zacks Consensus Estimate of $1,405 million. The 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 currency headwinds. On a currency-adjusted basis, sales were up 6%.
The company now anticipates sales growth of 3%–4% for fiscal 2017, up from the previous guidance of 2% to 4%. The company continues to anticipate currency-neutral sales growth expected in the range of 4%–6%. 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!
The Best Place to Start Your Stock Search
Today, you are invited to download the full list of 220 Zacks Rank #1 """"Strong Buy"""" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 """"Strong Sells"""" and other private research. See these stocks free >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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