Clorox Stands by Quarterly Outlook

Household products maker Clorox Co., Oakland, CA, stood by its outlook for a rise in quarterly earnings, as cost-cutting measures will help offset higher raw material prices. The maker of Clorox bleach, Kingsford Charcoal and Hidden Valley salad dressing forecast profit of $0.49 to $0.52 a share for the fiscal third quarter and said it expected full-year profit of $2.21 to $2.27, repeating a forecast it made in February. It also still expects third-quarter unit volume to be equal to slightly below last year’s, including divestitures.

Analysts on average forecast profit of $0.50 a share for the quarter, up from $0.45 a year ago, according to market research firm Thomson First Call. Clorox has been working to cut costs for more than a year, closing plants, selling under-performing operations and trimming jobs. It has also set up a joint venture with Procter & Gamble Co. to make and sell Glad plastic bags and wraps.