Clorox Profit Climbs on Swine Flu
Stock quotes in this article:CLX
OAKLAND, CALIF.(TheStreet) -- Clorox(CLX) posted a 23% jump in first-quarter profit, boosted by sales of disinfectants to combat swine flu.
Even as the maker of Brita water filters and Glad trash bags raised prices, it still managed to earn $157 million, or $1.11 per share, compared with $128 million, or 90 cents, a year ago. Analysts expected the company to earn 95 cents a share. Revenue slipped less than 1% to $1.37 billion, ahead of Wall Street's consensus of $1.34 billion. As a result of better-than-expected sales and profit, Clorox upped its full-year guidance to $4.05 to $4.20 from a prior outlook in the range of $4 and $4.15 a share. Shares of the company inched up 1.6% to $59.92 in pre-market trading. Last week, rivals Colgate-Palmolive(CL) and Procter & Gamble(PG)also reported earnings results that topped expectations. -- Reported by Jeanine Poggi in New York Follow TheStreet.com on Twitter and become a fan on Facebook.>To order reprints of this article, click here: ReprintsTheStreet Premium Services For Personal Service: 877-471-2967
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