The 10-second takeaway
For the quarter ended March 31 (Q3), Clorox beat expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue increased and GAAP earnings per share dropped.
Margins shrank across the board.
Clorox reported revenue of $1.40 billion. The 12 analysts polled by S&P Capital IQ expected to see revenue of $1.35 billion on the same basis. GAAP reported sales were 7.4% higher than the prior-year quarter's $1.30 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $1.02. The 15 earnings estimates compiled by S&P Capital IQ predicted $1.04 per share. GAAP EPS of $0.99 for Q3 were 9.2% lower than the prior-year quarter's $1.09 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 42.3%, 180 basis points worse than the prior-year quarter. Operating margin was 16.1%, 220 basis points worse than the prior-year quarter. Net margin was 9.3%, 230 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $1.53 billion. On the bottom line, the average EPS estimate is $1.28.
Next year's average estimate for revenue is $5.41 billion. The average EPS estimate is $4.08.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 823 members out of 859 rating the stock outperform, and 36 members rating it underperform. Among 258 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 254 give Clorox a green thumbs-up, and four give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Clorox is hold, with an average price target of $69.64.
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