Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Clorox Co    CLX

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

The Clorox Company : UPDATE :Clorox Shares Up On Strong 2Q Sales,Upbeat Top-Line View

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/03/2012 | 05:43pm CEST

--Clorox reports strong second-quarter results as sales boosted by higher prices

--Clorox raises full-year sales view due to first-half results

--Shares up more than 2% as results beat expectations

(Updates shares, adds more detail on earnings and volume performance throughout.)

 
   By Paul Ziobro 
   Of  
 

Clorox Co. (>> The Clorox Company) shares rose as fiscal second-quarter sales rose more than expected with help from higher prices, overcoming concerns that tepid demand in North America would crimp sales for household staples.

Shares were up 2.1% to $70.16 in recent trading, after second-quarter sales and earnings beat expectations. The company's net rose sharply, as last year's results were hampered by a heavy writedown related to its Burt Bees acquisition.

Clorox sales were up 4% in the quarter, prompting the company to raise its sales outlook for the year. Chairman and Chief Executive Don Knauss said the categories that Clorox operates in -- laundry, cleaning products, trash bags and others -- continue to recover from the depths of the downturn, as consumers either started buying lower-priced private label goods or found alternatives, like using plastic shopping bags in trash cans, to the household staples.

Clorox top line results came as other household product makers like Procter & Gamble Co. (>> The Procter & Gamble Company), Kimberly-Clark Corp. (>> Kimberly Clark Corp) and Colgate-Palmolive Co. (>> The Procter & Gamble Company) have in recent weeks warned of continued weak demand in developed markets like the U.S. Clorox generates a larger percentage of its sales in North America than other large consumer product companies, who can rely on fast-growing emerging markets to post growth.

Clorox's latest results were boosted by price increases, including a number made in August on some cleaning products, liquid bleach, Hidden Valley salad dressing and Brita water filtration pitchers. But overall volume remained flat for the quarter. While volume fell on some products where price increases went into effect more recently, Clorox offset those declines with higher volumes in Fresh Step cat litter and Brita, where new products helped.

Clorox said it now expects sales to grow between 2% and 4% for the year, up from its previous target of 1% to 3% growth.

Despite the rosier sales view, Clorox merely backed its profit expectations, although it includes some dilution from recent acquisition. It also expects gross margins to fall slightly as opposed to remaining flat.

For the quarter ended Dec. 31, Clorox reported a profit of $105 million, or 79 cents a share, up sharply from $21 million, or 15 cents a share, a year earlier. Stripping out a hefty writedown on the Burt's Bees business, earnings a year earlier would have come in at 68 cents a share.

Sales improved 3.6% to $1.22 billion. The top line grew 5% in the cleaning business, 4% the household division, which includes Glad trash bags and Fresh Step and 6% in the lifestyle division, which includes salad dressing and Burt's Bees personal care products. The international business posted flat sales versus a year ago.

Analysts polled by Thomson Reuters were looking for earnings of 68 cents a share on $1.2 billion in revenue.

Gross margin narrowed to 41.5% from 41.7% on higher commodity costs.

-By Paul Ziobro, Dow Jones Newswires; 212-416-2194; [email protected]

-Mia Lamar contributed to this article.

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on CLOROX CO
04/24 GENERAL MOTORS : fires 2,700 in Venezuela after plant closure - workers
04/21 CLOROX : CR Magazine Recognizes Clorox for Corporate Responsibility Performance
04/17 HOME RUNS, STRIKEOUTS OR GLOVE WORK, : What's Best In Baseball
04/13 CLOROX : Patent Issued for Trigger-Dispensing Device for Two Or More Liquids (US..
04/05 CLOROX : Announces May 3 Webcast of Third-Quarter Fiscal Year 2017 Results
03/27 CLOROX : Professional Announces Clorox® Total 360(TM) System
03/16 CLOROX CO /DE/ : Change in Directors or Principal Officers (form 8-K)
03/15 CLOROX : Hidden Valley® Encourages America To Get Dippin’ On National Ranc..
03/15 CLOROX : New Brita® Stream™ Pitcher Filters Faster Than You Can Say &ldquo..
03/10 CLOROX : Hidden Valley® Encourages America To Get Dippin' On National Ranch Dres..
More news
Sector news : Household Products - NEC
04/24 J&J, Takeda among interested in Brazil's Hypermarcas, sources say
04/21 FTSE edges down, scores worst week in over five months
04/21 Reckitt emerges as laggard in consumer goods sector
04/21DJRECKITT BENCKISER : 1Q Revenue Up Helped by Forex
04/18 U.S. Post Holdings tucks into British breakfast cereal Weetabix
More sector news : Household Products - NEC
News from SeekingAlpha
04/19 THE PASSIVE DGI PORTFOLIO : Review And Updates
04/15 Lessons In The Long Term Consumer Staples Data
04/12 Stocks Going Ex-Dividend The Third Week Of April
04/07 Stocks Going Ex-Dividend The Second Week Of April
04/05 Dividend Stock Analysis - The Clorox Company
Advertisement
Financials ($)
Sales 2017 5 972 M
EBIT 2017 1 130 M
Net income 2017 696 M
Debt 2017 1 929 M
Yield 2017 2,41%
P/E ratio 2017 25,26
P/E ratio 2018 23,38
EV / Sales 2017 3,20x
EV / Sales 2018 3,08x
Capitalization 17 188 M
More Financials
Chart CLOROX CO
Duration : Period :
Clorox Co Technical Analysis Chart | CLX | US1890541097 | 4-Traders
Full-screen chart
Technical analysis trends CLOROX CO
Short TermMid-TermLong Term
TrendsNeutralBullishNeutral
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 18
Average target price 132 $
Spread / Average Target -1,7%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Benno O. Dorer Chairman & Chief Executive Officer
Dawn C. Willoughby Chief Operating Officer & Executive VP
Stephen M. Robb Chief Financial Officer & Executive Vice President
Manjit Singh Chief Information Officer & Senior Vice President
Robert W. Matschullat Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
CLOROX CO11.65%17 188
RECKITT BENCKISER GROU..4.47%65 042
UNILEVER INDONESIA TBK..--.--%26 180
CHURCH & DWIGHT CO., I..12.65%12 646
LION CORP3.50%5 335
KOBAYASHI PHARMACEUTIC..14.77%4 244
More Results