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; paul.ziobro@dowjones.com

-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
06/22 COMCAST : Philly CEOs make Glassdoor's top boss list
06/21 CLOROX : CEO Benno Dorer Earns Top Spot on Glassdoor’s Highest-Rated CEOs ..
06/21 CLOROX : CEO Benno Dorer Earns Top Spot on Glassdoor's Highest-Rated CEOs List f..
06/13 CLOROX : Introducing New and Improved Clorox Healthcare® Hydrogen Peroxide Clean..
06/07 CLOROX : Renew Life Probiotics Aims to Shift the Conversation with Launch of &ld..
05/22 CLOROX : Announces June 14 Webcast of Company Presentation at dbAccess Global Co..
05/22 CLOROX : Announces Time Change for Presentation at 33rd Annual Bernstein Strateg..
05/17 CLOROX : Kingsford Fires Up Petition To Make Barbecue Ribs America's National Fo..
05/09 DAILY DIVIDEND REPORT : Clx, leg, fds, ip, abc, lll
05/09 CLOROX : Increases Quarterly Dividend 5 Percent to 84 Cents Per Share
More news
Sector news : Household Products - NEC
06/28 Factbox - Companies hit by global ransomware attack on June 27
06/22DJRECKITT BENCKISER : Prices $7.75 Billion Multi-tranche Senior Notes Offering
06/19 EXCLUSIVE - BUYOUT FUND CVC HIRES BA : sources
06/15DJRECKITT BENCKISER : Completion of MJN Acquisition
06/12DJRECKITT BENCKISER : Expected Completion Date of MJN Acquisition
More sector news : Household Products - NEC
News from SeekingAlpha
06/26 How To Beat XLP For The Active Investor
06/14 The Clorox Company (CLX) Presents At Deutsche Bank Global Consumer Conference..
06/12 APPLE : Is Wall Street Getting The Valuation Wrong?
06/06 DIVIDEND INCOME UPDATE : May 2017
06/05 Top Dividend Raises & Cuts For May 2017
Advertisement
Financials ($)
Sales 2017 5 970 M
EBIT 2017 1 118 M
Net income 2017 698 M
Debt 2017 1 802 M
Yield 2017 2,38%
P/E ratio 2017 25,66
P/E ratio 2018 23,88
EV / Sales 2017 3,24x
EV / Sales 2018 3,12x
Capitalization 17 542 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
TrendsNeutralBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 17
Average target price 132 $
Spread / Average Target -2,7%
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 CO13.48%17 542
RECKITT BENCKISER13.81%71 373
UNILEVER INDONESIA TBK..--.--%27 926
CHURCH & DWIGHT CO., I..19.21%13 106
LION CORP23.43%6 301
KOBAYASHI PHARMACEUTIC..34.73%4 933
More Results