Clorox Eases Off Earlier Estimates
Rainy weather doused the original fourth-quarter earnings estimates of Clorox (CLX).
The consumer products maker lowered its earnings estimate for the fiscal fourth quarter to a range of 67 cents or 68 cents a share from its original forecast of 67 cents to 70 cents, according to a statement released Wednesday. Clorox now expects "low single-digit volume and sales growth compared with the year-ago quarter."
The company said the wet spring weather lowered consumer demand for its seasonal products, like charcoal.
In the fourth quarter last year, Clorox earned 63 cents a share on sales of $1.14 billion.For the fiscal year, Clorox now anticipates earnings of $2.22 to $2.23 a share. Previously, it expected earnings of $2.22 to $2.25. A survey of 11 analysts by Thomson First Call predicts the company's earnings will reach $2.24 a share for fiscal 2003 and $2.50 a share for fiscal 2004. During morning trading on the New York Stock Exchange, Clorox shares were down $1.85, or 4%, to $43.40.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV