Clorox Profit Rises Above Expectations, While Sales Growth Matches

Clorox Co. reported Thursday a fiscal fourth-quarter net profit that rose to $201 million, or $1.52 a share, from $165 million, or $1.26 a share, in the same period a year ago. The consumer goods company said earnings per share from continuing operations was $1.53. The FactSet EPS consensus was $1.49. Revenue increased to $1.65 billion from $1.60 billion, matching the FactSet consensus of $1.65 billion, reflecting growth from its RenewLife digestive health business and the benefit of price increases, which were partially offset by an unfavorable mix. Volume grew 3%, amid a 4% increase in cleaning, 5% growth in household and a 1% rise in lifestyle. The company expects fiscal 2018 EPS of $5.52 to $5.72. The FactSet EPS consensus for 2018 is $5.69. The stock, which is still inactive in premarket trade, has climbed 10.0% year to date, while the SPDR Consumer Staples Select Sector ETF has gained 6.8% and the S&P 500 has advanced 10.7%.