Breaking News

Clorox Raises Earnings Outlook

September 18, 2002

Clorox Co. raised its fiscal first-quarter earnings outlook on the strength of continued cost cuts and increased confidence in its product offering. The maker of household bleach, Glad bags and other consumer products on Wednesday said it now expects earnings of 52 cents to 55 cents a share for the quarter ending Sept. 30, up from an August estimate of 50 cents to 52 cents a share. The mean estimate of analysts surveyed by Thomson First Call was for earnings of 51 cents a share. Clorox's year-earlier first-quarter earnings were $108 million, or 45 cents a share, on revenue of $991 million.

A Clorox spokeswoman said the company expects first quarter margins above year-earlier levels of 42.9% because of the company's favorable product mix. The spokeswoman later said that Clorox's specialty products, in particular its Kingsford brand of charcoal, were helping to drive sales for the quarter.

Clorox ReadyMop, a cleaning product introduced in January, led sales growth in North America in the company's fiscal fourth quarter. Other strong performers for the company this year have been both Kingsford and Match Light charcoal, Formula 409, Clorox Clean-Up and Clorox disinfecting wipes. However, sales of regular and color-safe bleaches declined in the most recent quarter, as have sales of bags, wraps and water-filtration systems.

The company said Wednesday it still expects low-single-digit percentage growth in the first quarter.
  • Patent Activity: Colgate-Palmolive

    Patent Activity: Colgate-Palmolive

    December 6, 2016
    New oral care compositions, the use of radish root ferment filtrate in a cleanser and more.

  • Sparkle & Shine

    Sparkle & Shine

    Melissa Meisel, Associate Editor||November 21, 2016
    Glam packaging and upscale scent combos are big at Yankee Candle for Holiday 2016.

  • Cos Bar: Turning 40 and Hitting Fast Forward

    Cos Bar: Turning 40 and Hitting Fast Forward

    Christine Esposito, Associate Editor||November 21, 2016
    With a recent investor infusion, a new CEO and rebranding effort underway, this luxury beauty retailer has big plans.

  • The World Comes to Orlando

    The World Comes to Orlando

    Tom Branna , Editorial Director||December 1, 2016
    More than 1,600 chemists traveled to Florida for the IFSCC Congress

  • The Plex  Phenomenon

    The Plex Phenomenon

    Denise Costrini, Croda North America||December 1, 2016
    Croda details the hair-protecting qualities of bond multipliers and the company’s new bond-building formulation system.