2023-08-02 16:34:18 ET
The Clorox Company ( NYSE: CLX ) popped in post-market trading after second quarter results and the company's outlook impressed. Shares rose 5.8% .
For the 2024 fiscal year, CLX expects adjusted EPS between $5.60 and $5.90, or an increase between 10% and 16%, respectively, and compared to the average analyst estimate of $5.63.
Net sales of $2 billion in the fiscal fourth quarter beat the average analyst estimate of $1.88B, while adjusted EPS of $1.67 compared to the $1.18 estimate.
"We closed out fiscal year 2023 with strong results driven by broad-based consumption across our portfolio," Chief Executive Officer Linda Rendle wrote in a statement.
"We've been relentlessly focused on driving top-line growth while rebuilding margins in the midst of a challenging operating environment as we continue to advance our long-term strategy to invest in our advantaged portfolio of superior brands, advance our digital transformation, and streamline our operating model."
“Looking ahead to fiscal year 2024, we are committed to building on our progress and believe these actions, combined with the strength of our portfolio and the relevance of our IGNITE strategy, will enable us to drive long-term profitable growth."
CLX is up 7.1% so far this year and down 4% over the past month.
More on Clorox:
- Clorox: Improving Growth Prospects And A Reasonable Valuation
- Clorox raises dividend by 2% to $1.20
- Clorox cut to Sell as CFRA highlights reliance on price hikes
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Clorox cleans up; Shares rise post-market on strong results, outlook