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Clorox EcoClean Disinfecting Wipes expands the Clorox EcoClean product portfolio of Design for the Environment (DfE) and Safer Choice-certified, ready-to-use cleaners and disinfectants, to provide cleaning professionals more eco-conscious alternatives that work as well as traditional cleaners. OAKLAND, Calif.
It is safe to say that 2024 has been a disappointing year for those who invested in consumer staple stocks. The widely feared and talked about recession has not arrived, and so far the Fed has not made any rate cuts this year despite high anticipation.
Stock markets cratered on the rise of interest rates in Japan. Adding insult to injury, Barclays cut price targets on Clorox, Twilio, and Atlassian this morning.
Clorox (CLX) shares jumped Friday to become the top performer in the S&P 500 after the company known for its namesake bleach and disinfectants reported better-than-expected quarterly profits the day before. Expanding gross margins and cost-reduction efforts helped the provider of consumer and professional products achieve 9% bottom-line growth from the year-ago period.
During its most recent quarter, Clorox Co.'s sales were hurt by more competition for things like trash bags and cat litter. In the household-goods maker's earnings release on Thursday, executives blamed unfriendly weather for weaker grilling-product sales.
Clorox's sales were down in its fiscal 2024, and it expects a possible decline in the coming year as well. Even with profits trending in the right direction, the stock trades at a premium valuation compared to its forward estimates.
Clorox's (CLX) fiscal 2025 gross margin is expected to improve by around 100 basis points, driven by comprehensive margin management efforts.
The Clorox Company (NYSE:CLX ) Q4 2024 Earnings Conference Call August 1, 2024 5:00 PM ET Company Participants Lisah Burhan - VP, IR Linda Rendle - Chair and CEO Kevin Jacobsen - CFO Conference Call Participants Filippo Falorni - Citi Peter Grom - UBS Andrea Teixeira - JPMorgan Chris Carey - Wells Fargo Bonnie Herzog - Goldman Sachs Dara Mohsenian - Morgan Stanley Kaumil Gajrawala - Jefferies Kevin Grundy - BNP Paribas Robert Moskow - TD Cowen Olivia Tong - Raymond James Lauren Lieberman - Barclays Steve Powers - Deutsche Bank Operator Good day, ladies and gentlemen, and welcome to the Clorox Company Fourth Quarter Fiscal Year 2024 Earnings Release Conference Call. At this time, all participants are in a listen-only mode.
Although the revenue and EPS for Clorox (CLX) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Clorox (CLX) came out with quarterly earnings of $1.82 per share, beating the Zacks Consensus Estimate of $1.54 per share. This compares to earnings of $1.67 per share a year ago.