Clorox (CLX) Misses Q4 EPS by 2c

Clorox (NYSE: CLX) reported Q4 EPS of $1.26, $0.02 worse than the analyst estimate of $1.28. Revenue for the quarter came in at $1.6 billion versus the consensus estimate of $1.58 billion.

Volume for the fourth quarter increased 7 percent, reflecting gains in all four of the company's reportable segments. Sales grew 3 percent, driven by the benefits of strong volume growth, the acquisition of digestive health company RenewLife in May 2016 and price increases in the company's International business. These factors were partially offset by more than 2 percentage points of unfavorable foreign currency exchange rates, unfavorable mix and higher trade promotion spending. On a currency-neutral basis, fourth-quarter sales grew 5 percent.

GUIDANCE:

Clorox sees FY2017 EPS of $5.38-$5.58, versus the consensus of $5.22.

For earnings history and earnings-related data on Clorox (CLX) click here.

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