2023-08-02 16:12:13 ET
- Clorox press release ( NYSE: CLX ): Q4 Non-GAAP EPS of $1.67 beats by $0.49 .
- Revenue of $2.02B (+12.2% Y/Y) beats by $140M .
- 2024 Outlook: Net sales are expected to be flat to up 2% compared to the prior year. Organic sales are expected to be up 2% to up 4%.
- Gross margin is expected to increase by about 150 to 175 basis points, primarily due to the combined benefit of pricing, cost savings and supply chain optimization, offset by continued cost inflation.
- Selling and administrative expenses are expected to be between 15% and 16% of net sales, which includes about 1.5 points of impact from the company's strategic investments in digital capabilities and productivity enhancements.
- Advertising and sales promotion spending is expected to be about 11% of net sales, reflecting the company's ongoing commitment to invest behind its brands.
- The company's effective tax rate is expected to be about 24%.
- Diluted EPS is expected to be between $4.65 and $4.95, or an increase between 290% and 316%, respectively, primarily due to the impact of the noncash impairment charge in the VMS business in fiscal year 2023.
- Adjusted EPS is expected to be between $5.60 and $5.90, or an increase between 10% and 16%, respectively.
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Clorox Non-GAAP EPS of $1.67 beats by $0.49, revenue of $2.02B beats by $140M