Earnings To Watch: Clorox (CLX) Reports Q2 Results Tomorrow
Stock Story
Published Jan 31, 2024 02:01AM ET
Updated Jan 31, 2024 05:31AM ET
Earnings To Watch: Clorox (CLX) Reports Q2 Results Tomorrow
Consumer products giant Clorox (NYSE:CLX) will be announcing earnings results tomorrow after market hours. Here's what to expect.
Last quarter Clorox reported revenues of $1.39 billion, down 20.3% year on year, beating analyst revenue expectations by 5.8%. It was an exceptional quarter for the company, with an impressive beat of analysts' earnings estimates.
Is Clorox buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting Clorox's revenue to grow 5.2% year on year to $1.80 billion, improving on the 1.4% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.10 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company only missed Wall St's revenue estimates once over the last two years, and has on average exceeded top line expectations by 2.9%.
Looking at Clorox's peers in the household products segment, some of them have already reported Q2 earnings results, giving us a hint of what we can expect. WD-40 delivered top-line growth of 12.4% year on year, beating analyst estimates by 4.5% and Procter & Gamble reported revenues up 3.2% year on year, missing analyst estimates by 0.3%. WD-40 traded up 5.6% on the results, and Procter & Gamble was flat.
Read the full analysis of WD-40's and Procter & Gamble's results on StockStory.
Stocks have faced challenges as investors prioritize near-term cash flows and while some of the household products stocks have fared somewhat better, they have not been spared, with share price declining 2.5% over the last month. Clorox is up 1.2% during the same time, and is heading into the earnings with analyst price target of $140.4, compared to share price of $146.5.
The author has no position in any of the stocks mentioned.
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