Consumer products giant Clorox (NYSE: CLX) will be reporting results this Monday after market close. Here’s what investors should know.
Clorox met analysts’ revenue expectations last quarter, reporting revenues of $1.67 billion, flat year on year. It was a slower quarter for the company, with a miss of analysts’ gross margin estimates and full-year EPS guidance missing analysts’ expectations.
Is Clorox a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Clorox’s revenue to decline 4.5% year on year, a reversal from the 4.5% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Clorox has missed Wall Street’s revenue estimates multiple times 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. WD-40 delivered year-on-year revenue growth of 24.3%, beating analysts’ expectations by 12.9%, and Reynolds reported flat revenue, topping estimates by 1.1%. WD-40 traded up 10.6% following the results while Reynolds was down 2.1%.
Read our full analysis of WD-40’s results here and Reynolds’s results here.
Investors in the household products segment have had steady hands going into earnings, with share prices flat over the last month. Clorox is down 1.7% during the same time and is heading into earnings with an average analyst price target of $102.35 (compared to the current share price of $95.63).
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