Clorox said earnings for the three months ending in December, the company's fiscal second quarter, came in at $1.40 per share, up 13.8% from the same period last year and well ahead of the consensus forecast of $1.30 per share. Group sales, Clorox said, edged 3.7% higher to $1.473 billion and matched the Street consensus estimate.
Clorox said it sees its fiscal year 2019 earnings in the range of $6.20 to $6.40, unchanged from its assessment in late November, while noting that tariffs will reduce the diluted earnings per share outlook by between 5 cents and 7 cents a share.
"Sound execution of our pricing and cost-savings plans has enabled us to address near-term headwinds, resulting in another strong quarter of topline performance," said CEO Benno Dorer. "Importantly, we remain on track for sales and earnings in fiscal year 2019."
"With pricing largely behind us, we're focused on ongoing investment in our brands through robust back-half innovation, behind significant advertising and sales promotion support," he added. "We have continued confidence in our ability to deliver long-term value for our shareholders, guided by our 2020 Strategy, with an emphasis on innovation, brands with purpose and superior value, and leadership in digital."
Clorox shares were marked 4.3% higher in the opening minutes of trading Monday and changing hands $156.14 each, a move that would take the stock's three month gain to around 6.4% and value the Oakland, California-based company at around $21 billion.