Clorox sales spike as coronavirus spurs demand for cleaning products

FAN Editor

Clorox Co. raised its full-year outlook as sales surged 27% in the three months through September while consumers stocked up on cleaning products amid the COVID-19 pandemic.

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The Oakland, Calif.-based household products manufacturer reported fiscal first-quarter sales of $1.92 billion, surpassing the $1.75 billion that analysts surveyed by Refinitiv were expecting.

Ticker Security Last Change Change %
CLX CLOROX 207.25 -1.48 -0.71%

Net profit spiked 104% to $415 million, or an adjusted $3.22 per share. Wall Street analysts were forecasting adjusted earnings of $2.32 per share.

“We delivered another quarter of outstanding results to have a strong start to the fiscal year, with broad-based strength across our portfolio, driving double-digit sales growth in all reportable segments,” said CEO Linda Rendle in a statement.


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