Free Post Earnings Research Report: Clorox Co.’s Quarterly Earnings Advanced 4.58%

LONDON, UK / ACCESSWIRE / June 1, 2018 / If you want access to our free earnings report on The Clorox Co. (NYSE: CLX), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=CLX. On May 02, 2018, Clorox reported financial results for the third quarter of 2018 ending March 31, 2018. The Company surpassed analysts’ estimates for earnings as well as revenue in Q3 FY18. Register today and get access to over 1,000 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, 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

Clorox’s total revenues reached $1.52 billion for Q3 FY18, reflecting an increase of 2.71% from $1.48 billion in Q3 FY17. This growth in revenue was led by the Company’s focus on providing superior value to consumers through differentiated products and brands, and strong investments in innovation. The reported revenue number exceeded analysts’ consensus estimates of $1.51 billion.

During Q3 FY18, Clorox’s cost of products sold was $868 million, 4.96% higher than the $827 million reported in Q3 FY17. The Company had gross profit of $649 million in the reported quarter, a slight decrease of 0.15% from $650 million in the previous-year’s same quarter. Clorox’s gross margin fell 123 basis points to 42.78% in Q3 FY18 from 44.01% in Q3 FY17, due to higher commodity and logistics costs, which were partially offset by the benefits of cost savings and price increases.

Clorox incurred selling and administrative expenses of $208 million and advertising costs of $150 million in Q3 FY18, up 3.48% and down 6.83% on a y-o-y basis, respectively. The Company incurred research and development (R&D) costs of $32 million in Q3 FY18 compared to $35 million in Q3 FY17.

Clorox had net earnings from continuing operations of $181 million for the quarter ending March 31, 2018, an increase of 5.23% from $172 million for the same period last year. The Company’s diluted earnings per share (DEPS) from continuing operations also ascended 4.58% to $1.37 in the reported quarter from $1.31 in the year ago corresponding quarter. This was higher than analysts’ consensus estimates of $1.30 per share.

Clorox’s Segment Details

During Q3 FY18, the Cleaning segment’s net revenues were $513 million, up 3.22% on a y-o-y basis. This segment had earnings from continuing operations (before income taxes) of $135 million in Q3 FY18, an increase of 2.27% from $132 million in Q3 FY17.

The Household segment reported revenues of $493 million in Q3 FY18, an increment of 1.44% from Q3 FY17. This segment had earnings from continuing operations (before income taxes) of $88 million in the quarter under review, down 16.98% from $106 million in the previous year’s comparable quarter.

For Q3 FY18, the Lifestyle segment’s net revenues were $252 million, up 2.44% on a y-o-y basis. This segment had earnings from continuing operations (before income taxes) of $55 million in Q3 FY18, an increase of 7.84% from $51 million in Q3 FY17.

The International segment reported revenues of $259 million in Q3 FY18, 4.44% higher than the prior year’s same quarter. This segment had earnings from continuing operations (before income taxes) of $23 million in Q3 FY18, up 15% from $20 million in Q1 FY17.

Cash Matters

Clorox had cash and cash equivalents of $1.17 billion as on March 31, 2018, 172.39% higher than $431 million as on March 31, 2017. The Company had a long-term debt of $1.79 billion as on March 31, 2018, an increase of 28.71% from $1.39 billion as on March 31, 2017.Clorox’s year-to-date net cash from continuing operations increased 19% to $574 million from $483 million in the year ago same period, mainly driven by lower tax payments, largely due to tax reform.

On May 24, 2018, Clorox’s Board of Directors authorized the Company to repurchase its stock in the open market for an aggregate purchase price of up to $2 billion.

Outlook

For full year 2018, Clorox expects sales growth of about 3%, up from the previous estimate of 1% to 3%. The Company increased its guidance due to the Nutranext acquisition and its updated assumption for effective tax rate. Clorox expects its diluted EPS to be in the range of $6.15 to $6.30 in FY18, up from the previous range of $6.17 to $6.37.

On May 21, 2018, Clorox’s Board of Directors declared a quarterly dividend of $0.96 per share, payable August 17, 2018, to stockholders of record as of the close of business on August 01, 2018. This implies a dividend increase of 14% from what was announced in February ahead of the typical May announcement timing, due to the benefits of tax reform.

Stock Performance Snapshot

May 31, 2018 – At Thursday’s closing bell, Clorox’s stock dropped 4.17%, ending the trading session at $120.83.

Volume traded for the day: 3.39 million shares, which was above the 3-month average volume of 1.27 million shares.

Stock performance in the last month – up 3.43%

After yesterday’s close, Clorox’s market cap was at $15.67 billion.

Price to Earnings (P/E) ratio was at 21.91.

The stock has a dividend yield of 3.18%.

The stock is part of the Consumer Goods sector, categorized under the Housewares & Accessories industry.

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