Clorox said early Wednesday its quarterly profit actually fell 1.2% to $169 million, but the figure still topped analysts' consensus call by more than $10 million. On a per share basis, earnings grew 5% to $1.26 per share, from $1.20 per share, as Clorox repurchased 2.7 million shares of the company's common stock for $183 million in the recent quarter.
Fourth-quarter revenue increased 3.5% to a better-than-expected $1.48 billion, from $1.43 billion. Sales grew in all four of Clorox's business segments.Clorox shares were unchanged in premarket trading Wednesday after the stock closed lower in Tuesday's session. Clorox said its portfolio of brands, which includes Clorox, Glad, Brita, Armor All, Burt's Bees, STP and Kingsford, achieved its highest ever market share of 27.9%.
Volume in the fourth quarter grew 2%, led by gains in the company's cleaning and household segments. Clorox did say that gross margins fell, as expected, in the quarter as commodity costs and inflationary pressures increased. This was partially offset by price increases on some products.
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