Clorox (CLX) Earnings Surpass Estimates In Q2, Sales Miss
Zacks Investment Research | Feb 03, 2019 09:54PM ET
The Clorox Company (NYSE:CLX) (NYSE:CL) reported robust second-quarter fiscal 2019 results, wherein earnings surpassed estimates for the ninth straight quarter. Though revenues improved year over year, it marginally missed estimates. Further, the company reiterated its outlook for fiscal 2019.
Following the strong results, shares of Clorox rose nearly 5% in the pre-market trading session. Moreover, this Zacks Rank #3 (Hold) stock gained 18% in the past year, outperforming the industry ’s 9.5% growth.
Q2 Highlights
Quarterly earnings from continuing operations of $1.40 per share increased 2.2% year over year and surpassed the Zacks Consensus Estimate of $1.32. The bottom-line improvement was mainly backed by a lower tax rate along with higher sales and gains from cost savings.
The Clorox Company Price, Consensus and EPS Surprise
Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.