Clorox (CLX) Tops Q2 EPS by 3c; Updates Outlook

Clorox (NYSE: CLX) reported Q2 EPS of $1.25, ex-items, $0.03 better than the analyst estimate of $1.22. Revenue for the quarter came in at $1.41 billion versus the consensus estimate of $1.41 billion.

"I'm very pleased with the results we're reporting today, the highlight being we delivered our second consecutive quarter of 8 percent volume growth. This is the highest volume increase we've seen in nearly 10 years, with gains in each of our segments in the U.S. and International," said Chairman and CEO Benno Dorer. "Excluding the noncash charge, we delivered strong earnings per share growth on top of 18 percent growth in the year-ago period. Notably, we continue to drive cost savings and productivity improvements, including in International, which delivered significant margin improvement."

Clorox Updates Fiscal Year 2017 Outlook Behind Strong Sales Growth

• 3% to 4% sales growth (updated)
• 25 basis points to 50 basis points of EBIT margin expansion (unchanged)
• $5.23 to $5.38 diluted EPS range (updated) (*** consensus is $5.33)

"As we look to the remainder of fiscal year 2017, incremental investment behind our brands remains a priority, with promising innovation launching across our portfolio," continued Dorer. "Importantly, our core business remains strong. We're confident in our strategy and staying the course."

For earnings history and earnings-related data on Clorox (CLX) click here.

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