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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