Consumer products giant Clorox (NYSE:CLX) will be reporting results this Tuesday after market hours. Here’s what to expect.
Clorox beat analysts’ revenue expectations by 2% last quarter, reporting revenues of $1.43 billion, down 18.9% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ EBITDA estimates and a decent beat of analysts’ revenue estimates.
Is Clorox a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Clorox’s revenue to decline 2.6% year on year to $1.64 billion, improving from the 15.3% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.43 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Clorox has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Clorox’s peers in the household products segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Colgate-Palmolive delivered year-on-year revenue growth of 5.8%, beating analysts’ expectations by 1.7%, and Procter & Gamble reported revenues up 1.5%, in line with consensus estimates. Procter & Gamble traded up 2.8% following the results.
Read our full analysis of Colgate-Palmolive’s results here and Procter & Gamble’s results here.
There has been positive sentiment among investors in the household products segment, with share prices up 8.7% on average over the last month. Clorox is up 11.3% during the same time and is heading into earnings with an average analyst price target of $120.41 (compared to the current share price of $112.81).
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