LONDON, UK / ACCESSWIRE / February 26, 2018 / Active-Investors.com has just released a free earnings report on The Clorox Co. (NYSE: CLX) ("Clorox"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=CLX. The Company reported its second quarter fiscal 2018 (Q2 FY18) operating results on February 02, 2018. The Oakland, California-based Company's diluted earnings per share (EPS) reported a 55% y-o-y growth, outshining market consensus estimates. Register today and get access to over 1000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, The Clorox most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

In Q2 FY18, Clorox reported net sales of $1.42 billion, which came in marginally above the $1.41 billion reported in the year ago same period. However, the Company's net sales numbers for the reported quarter missed market consensus estimates of $1.43 billion. Furthermore, the Company reported a 1% y-o-y volume growth, largely driven by gains in the Cleaning and Lifestyle segments.

The consumer products maker posted net earnings of $233 million, or $1.77 per diluted share, in Q2 FY18 compared to $149 million, or $1.14 per diluted share, in Q2 FY17. The Company's net earnings included a $0.61 per share benefit from a significantly lower effective tax rate in the second quarter as the result of the US corporate tax reform. Meanwhile, Wall Street had expected the Company to report adjusted net earnings of $1.22 per diluted share.

Operational Metrics

During Q2 FY18, Clorox's gross profit was $609 million, or 43.0% of net sales, versus $629 million, or 44.7% of net sales, in the prior year's comparable quarter. The decline in gross margin was primarily attributed to higher input costs related to commodities and further tightening of the transportation market. The Company's selling and administrative expenses came in flat at $197 million in Q2 FY18. Furthermore, the Company spent $140 million on advertisements in Q2 FY18, up from $128 million in Q2 FY17.

Segment Results

During Q2 FY18, Clorox's Cleaning segment's net sales grew 1% to $472 million from $469 million in Q2 FY17. Meanwhile, the segment's pre-tax earnings from continuing operations rose 16% to $121 million in Q2 FY18 from $104 million in the year ago corresponding quarter.

Clorox's Household segment's net sales fell 3% to $410 million in Q2 FY18 from $421 million in Q2 FY17. However, the segment's pre-tax earnings from continuing operations declined 24% to $54 million during Q2 FY18 from $71 million in the last year's same quarter.

The Company's Lifestyle segment reported net sales of $268 million in Q2 FY18, a growth of 3% from $260 million recorded in the prior year's comparable quarter. Additionally, the segment's pre-tax earnings from continuing operations fell to $69 million in Q2 FY18 from $77 million in Q2 FY17.

Clorox's International segment's net sales increased 5% to $266 million during Q2 FY18 from $256 million in Q2 FY17. However, the segment's pre-tax earnings from continuing operations fell to $23 million in Q2 FY18 from $28 million in the prior year's corresponding period.

Cash Matters and Balance Sheet

In the first six months of FY18, the Company's net cash from continuing operations was $322 million, rising 19% from $271 million in the year ago same period. As on December 31, 2017, the Company had a cash and cash equivalents balance of $489 million compared to $414 million as on December 31, 2016. Furthermore, the Company's long-term debt increased to $1.79 billion as on December 31, 2017, from $1.39 billion as on December 31, 2016.

Dividend and Share Repurchase

In a separate press release on February 13, 2018, Clorox's Board of Directors hiked quarterly cash dividend by 14% to $0.96 per share, which will be payable on May 11, 2018, to stockholders of record as of the close of business on April 25, 2018.

Outlook

In its guidance for the full year FY18, Clorox updated its net sales growth range to 1% to 3%. Furthermore, diluted EPS is now expected lie between $6.17 and $6.37 for FY18, including a benefit of $0.70 per share to $0.75 per share from the tax reform.

Stock Performance Snapshot

February 23, 2018 - At Friday's closing bell, The Clorox's stock advanced 1.67%, ending the trading session at $129.43.

Volume traded for the day: 891.44 thousand shares.

After last Friday's close, The Clorox's market cap was at $16.74 billion.

Price to Earnings (P/E) ratio was at 21.52.

The stock has a dividend yield of 2.97%.

The stock is part of the Consumer Goods sector, categorized under the Housewares & Accessories industry. This sector was up 1.3% at the end of the session.

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