Consumer Products

Clorox Cleans Up and Then Some in Q1

When Clorox Co. (NYSE: CLX) reported its first-quarter financial results before the opening bell on Monday, the firm said that it had $3.22 in earnings per share (EPS) and $1.92 billion in revenue, while consensus estimates that called for $2.32 in EPS on $1.75 billion in revenue. The same period of last year reportedly had $1.59 in EPS and $1.51 billion in revenue.

During the most recent quarter, sales increased 27% year over year, driven by double-digit growth in eight of 10 business units due to COVID-19 and people spending more time at home. Also, EPS results reflect higher sales and gross margin expansion.

In terms of its segments, the company reported:

  • Health and Wellness revenues increased 28% year over year to $813 million.
  • Household revenue increased by 39% to $500 million.
  • Lifestyle revenue grew 17% to $318 million.
  • International revenue increased by 18% to $285 million.

Net cash provided by operations was $383 million, compared to $271 million in the year-ago period. On the books, Clorox cash and cash equivalents totaled $860 million, up from $150 million at the end of the same period last year.

Looking ahead to the 2021 fiscal full year, Clorox expects to see EPS in the range of $7.70 to $7.95 and sales growth of 5% to 9%. Consensus estimates are calling for $7.69 in EPS and $6.93 billion in revenue for the year.

Clorox stock traded up 5% at $218.23 on Monday, in a 52-week range of $144.31 to $239.87. The consensus price target is $223.23.