Clorox forecasts upbeat annual sales as demand improves

Aug 3 (Reuters) - Pine-Sol ‌maker Clorox ​forecast ​annual sales above analysts' expectations on Monday, betting on improving demand for its health ‌and wellness segments as well as from ⁠international customers despite macroeconomic uncertainty.

Here are more details:

• Consumers continued ‌to stock up on ‌essential products such as surface cleaning agents, disinfectants and paper napkins, boosting sales for companies such ​as Clorox.

• However, CEO Linda Rendle said that the company expects the "operating environment to remain ⁠challenging, with continued cost volatility and a value-seeking consumer".

• The company expects ​its 2027 net sales to rise between 13% and 14%, above analysts' estimate of ​a 12.8% rise, according to ‌data compiled by LSEG.

• Clorox expects fiscal 2027 adjusted earnings between $5.70 and $6 per ⁠share, compared with analysts' expectations of $5.97.

• Its sales for the fourth quarter ended June 30 fell 2% ⁠to $1.95 billion from a year ago, but beat analysts' estimate of $1.90 ​billion.

• In April, the company acquired Purell maker GOJO Industries for $2.25 billion as it tries to expand its reach in ‌the health and hygiene segments.

• On an adjusted basis, Clorox earned a quarterly ‌profit of $1.66 per share, compared with estimates of $1.65 ⁠per share.

• The company's ‌quarterly gross margin ​fell 520 basis points to 41.3%.

(Reporting by Koyena Das in Bengaluru; Editing by Diti ‌Pujara)

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