Consumer products giant Clorox (NYSE: CLX) will be announcing earnings results this Monday afternoon. Here’s what to look for.
Clorox beat analysts’ revenue expectations last quarter, reporting revenues of $1.95 billion, down 2% year on year. It was a mixed quarter for the company, with a narrow beat of analysts’ EPS estimates but a miss of analysts’ gross margin estimates.
Is Clorox a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Clorox’s revenue to grow 31.3% year on year, a reversal from the 18.9% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Clorox rarely misses Wall Street’s revenue estimates.
Looking at Clorox’s peers in the household products segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Procter & Gamble delivered year-on-year revenue growth of 4%, beating analysts’ expectations by 2%, and Church & Dwight reported revenues up 1%, topping estimates by 1.6%. Procter & Gamble traded up 2.7% following the results.
Read our full analysis of Procter & Gamble’s results here and Church & Dwight’s results here.
There has been positive sentiment among investors in the household products segment, with share prices up 6.4% on average over the last month. Clorox is up 9.4% during the same time and is heading into earnings with an average analyst price target of $96.35 (compared to the current share price of $87.98).
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