Clorox Company (NYSE:CLX) reported second-quarter financial results Monday after the bell. Here’s a rundown of the report.
Q2 Earnings: Clorox reported fiscal second-quarter revenue of $1.69 billion, beating the consensus estimate of $1.63 billion, according to Benzinga Pro. The household consumer products company reported adjusted earnings of $1.55 per share, beating analyst estimates of $1.41 per share.
Clorox said net sales decreased 15% on a year-over-year basis. Health and Wellness sales fell 13%, Household sales decreased 11%, Lifestyle sales were down 16% and International sales fell 12%.
Gross margin increased 30 basis points to 43.8%, up from 43.5% in the prior year’s quarter. Net cash provided by operations year-to-date came in at $401 million, up from $173 million year-over-year.
Clorox ended the period with $290 million of cash and cash equivalents.
“We achieved better-than-expected results across sales, margin and EPS in the second quarter due to our strong demand creation plans, which also supported our share growth,” said Linda Rendle, chair and CEO of Clorox.
“We are further advancing our transformation as we embark upon a significant milestone with our Enterprise Resource Planning transition in the U.S., resulting in our updated outlook. I am confident that we are taking the right actions to deliver strong financial performance and long-term, profitable growth.”
Outlook: Clorox raised its full-year earnings forecast from a range of $6.65 to $6.90 per share to a new range of $6.95 to $7.35 per share versus estimates of $6.84 per share. The company also guided for 2025 net sales in a range of down 1% to up 2%.
CLX Price Action: Clorox shares were down 2.28% after-hours, trading at $155.13 at the time of publication Monday, according to Benzinga Pro.
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