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Clorox Raises 2005 Earnings Estimates

November 22, 2005

The Clorox Company raised its fiscal 2005 earnings estimates, citing the effects of a shares exchange earlier this year with Henkel KGAA. For the fiscal year ending June 30, Clorox predicted earnings, excluding items, of $2.65-2.76 a share, versus its previous estimate of $2.58-2.66 a share.
Clorox executives said earnings excluding items will be $0.51-0.55 a share for the second quarter ending Dec. 31, up from previous estimates of $0.48-0.52 a share.
Executives also announced Procter & Gamble Co. will pay $133 million to raise its stake to 20% in Clorox’s Glad brand in January.
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