Financial News
Clorox (CLX) To Report Earnings Tomorrow: Here Is What To Expect
Consumer products giant Clorox (NYSE:CLX) will be reporting results tomorrow after the bell. Here’s what you need to know.
Clorox missed analysts’ revenue expectations by 2.4% last quarter, reporting revenues of $1.90 billion, down 5.7% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ organic revenue growth and EBITDA estimates.
Is Clorox a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Clorox’s revenue to grow 18.1% year on year to $1.64 billion, a reversal from the 20.3% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.39 per share.
Heading into earnings, analysts covering the company have grown increasingly bullish with revenue estimates seeing 4 upward revisions over the last 30 days (we track 12 analysts). Clorox has missed Wall Street’s revenue estimates twice over the last two years.
Looking at Clorox’s peers in the household products segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Colgate-Palmolive delivered year-on-year revenue growth of 2.4%, meeting analysts’ expectations, and Procter & Gamble reported flat revenue, falling short of estimates by 1.1%. Colgate-Palmolive traded down 4% following the results while Procter & Gamble was also down 1.6%.
Read our full analysis of Colgate-Palmolive’s results here and Procter & Gamble’s results here.
Investors in the household products segment have had fairly steady hands going into earnings, with share prices down 1.1% on average over the last month. Clorox is down 3.3% during the same time and is heading into earnings with an average analyst price target of $157.11 (compared to the current share price of $157.60).
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