Clorox tops analysts’ estimates for earnings and revenue in fiscal Q4
- Clorox tops analysts’ estimates for earnings and revenue in fiscal Q4.
- The cleaning company posts £1.52 billion of revenue and £1.85 of EPS.
- Clorox forecasts its annual EPS between a 5% decline to a 5% increase.
The Clorox Company (NYSE: CLX) published its quarterly financial results on Monday that came in stronger than what the experts had forecast for the fiscal fourth quarter. The company attributed its hawkish performance to the Coronavirus pandemic that fuelled demand for its cleaning products in recent months. Previously, Clorox had reported a 15% increase in sales in its fiscal third quarter in May.
Shares of the company were reported about 1.5% up in premarket trading on Monday. At £183 per share, Clorox is currently more than 50% up year to date in the stock market that marks a year to date high for the company. Learn more about how can you start trading on the stock market.
Clorox Q4 financial results versus analysts’ estimates
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According to FactSet, analysts had anticipated the company to print £1.44 billion in revenue in the fourth quarter. In terms of earnings per share (EPS), their estimate was capped at £1.53 per share. In its report on Monday, Clorox topped both estimates posting a higher £1.52 billion of revenue and £1.85 of earnings per share in Q4.
At £237.94, the American global manufacturer said that its net income in the fourth quarter came in significantly stronger than £184.98 million in the same quarter last year. On a year over year basis, its sales also registered 21.9% on Monday.
The Oakland-based company accentuated COVID-19 to have pushed its household and wellness sales up by 33% in the recent quarter. Clorox announced to have partnered with Cleveland Clinic last week to address Public Health needs posed by COVID-19.
CEO Benno Dorer’s comments on Monday
According to CEO Benno Dorer:
“I’m pleased that we’ve delivered a quarter of exceptional results, fuelled by strong demand for our products that we’ve been privileged to provide in support of public health and to serve some of the essential needs of consumers as they’ve had to stay at home more.”
For financial 2021, the cleaning and household products company forecasts its earnings per share to fall in the range of roughly a 5% decline to a 5% increase. Experts, on the other hand, anticipate an about 0.1% decline in Clorox annual EPS.
Clorox performance in the stock market remained flat on average in 2019. At the time of writing, the American global manufacturer and marketer of consumer and professional products has a market capitalisation of £22.86 billion and a price to earnings ratio of 34.69.