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.
Continue Reading Below
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.
CLICK HERE TO READ MORE ON FOX BUSINESS
This story is developing. Check back for updates.