The Clorox Company (CLX - Free Report) reported fourth-quarter fiscal 2017 results, wherein adjusted earnings from continuing operations of $1.53 per share rose 21% year over year and also beat the Zacks Consensus Estimate of $1.49.
The company expects earnings for fiscal 2018 to be in the range of $5.52–$5.72 per share, reflecting a growth 3%–7%.
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 underperformed the Zacks Consensus Estimate by an average of 0.6%.
Revenues: Clorox generated net sales of $1,647 million that climbed 2.9% year over year beating the Zacks Consensus Estimate of $1,640.9 million. The year over year increase was backed by solid volume growth, contributions from the RenewLife business and improved prices in the International division, partially offset by unfavorable mix.
The company anticipates sales growth of 2%–4% for fiscal 2018. Sales in fiscal 2018 are expected to gain from strong innovation and price increases, 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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