Yahoo Finance Clorox (CLX) Reports Earnings Tomorrow: What To Expect
Consumer products giant Clorox (NYSE:CLX) will be announcing earnings results tomorrow after market close. Here's what to look for.
Clorox missed analysts' revenue expectations by 3% last quarter, reporting revenues of $1.81 billion, down 5.3% year on year. It was a mixed quarter for the company, with a solid beat of analysts' earnings estimates but a miss of analysts' organic revenue growth estimates.
Is Clorox a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Clorox's revenue to decline 3.4% year on year to $1.95 billion, a reversal from the 12.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.55 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Clorox has missed Wall Street's revenue estimates twice over the last two years.
Looking at Clorox's peers in the household products segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Colgate-Palmolive delivered year-on-year revenue growth of 4.9%, beating analysts' expectations by 1.1%, and WD-40 reported revenues up 9.4%, topping estimates by 6.3%. Colgate-Palmolive traded up 4.5% following the results while WD-40 was also up 4%.
Read our full analysis of Colgate-Palmolive's results here and WD-40's results here.
There has been positive sentiment among investors in the household products segment, with share prices up 3.4% on average over the last month. Clorox is down 1.2% during the same time and is heading into earnings with an average analyst price target of $145.3 (compared to the current share price of $132).
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