Clorox Company (NYSE:CLX) released its third-quarter results after Monday's closing bell. Here's a look at the key figures from the report.
The Details: Clorox reported quarterly earnings of $1.45 per share, which missed the analyst consensus estimate of $1.57. Quarterly revenue came in at $1.67 billion, which missed the analyst consensus estimate of $1.73 billion and is down from revenue of $1.81 billion from the same period last year.
Read Next: Saudi Arabia’s Oil Power Play Jolts Markets: Can Diamondback And Rivals Survive The Squeeze?
The company reported gross margin increased 240 basis points to 44.6% from 42.2% in the year-ago quarter, primarily driven by cost savings and the benefits from the divestitures of the VMS and Argentina businesses.
“In the third quarter, heightened macroeconomic uncertainties drove changes in shopping behaviors, resulting in temporary category slowdowns and lower sales. We expect these slowdowns to persist in the fourth quarter, as reflected in our updated outlook,” said CEO Linda Rendle.
Outlook: Clorox affirmed its fiscal 2025 adjusted EPS guidance of $6.95 to $7.35 per share, versus the $7.12 analyst estimate. The company narrowed its fiscal year revenue outlook from a range of $7.02 billion to $7.24 billion to a range of $7.02 billion to $7.09 billion, below the $7.1 billion estimate.
CLX Price Action: According to data from Benzinga Pro, Clorox stock was down 4.06% after-hours at $132.77 on Monday.
Read Next:
Image: Shutterstock
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.