For the period ended Sept. 30, Clorox said its net income grew to $145 million, from $79 million in the year-earlier period.
Clorox’s earnings exceeded its revised forecast, with a raise in earnings guidance to a range of $0.52-0.55 cents a share in September. Company executives cited continued cost cuts and increased confidence in its product offerings as the cause.
In the last quarter, the company posted an estimated loss of $13 millin for the sale of its Brazilian business, which was classified as discontinued operations. Last year’s results included charges totaling $0.12 a share.
Excluding items in both quarters, Clorox’s earnings grew 42% to $158 million, or $0.71 a share, from $111 million, or $0.46 a share, a year earlier. Sales climbed 64.4% to $1.05 billion from $984 million a year earlier. Ex-cluding divestitures, sales grew 8%.