Clorox Q1 Profit, Sales Top Estimates
Clorox Co. shares rose 2.4% in premarket trade on Friday after its fiscal first-quarter profit and sales topped Wall Street expectations. Net income fell to $90 million, or 68 cents a share, from $136 million, or $1.03 a share, in the year-earlier period. Profit from continuing operations was $1.10 a share, beating the $1.03 FactSet consensus estimate. Sales rose to $1.35 billion from $1.34 billion, also beating consensus estimate of $1.33 billion. Clorox keeps its full-year per-share profit outlook of $4.35 to $4.50 a share. Analysts surveyed by FactSet were looking for $4.42 a share.
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