Clorox Backs FY View After Q1 Profit, Revenue Rise - Quick Facts

(RTTNews) - Consumer products maker Clorox Co. (CLX) Monday said it continues to anticipate fiscal year 2016 earnings per share from continuing operations in the range of $4.68 to $4.83. The company still expects flat to 1 percent sales growth.

Analysts look for earnings of $4.83 per share on revenues of $5.71 billion.

For the first quarter, net earnings climbed to $172 million from $90 million. Earnings per share grew to $1.31 from $0.68.

Earnings per share from continuing operations were $1.32, in comparison with $1.10 last year. On average, 15 analysts polled by Thomson Reuters expected earnings of $1.18 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales grew to $1.39 billion from $1.352 billion in the prior year. Analysts expected revenues of $1.38 billion.

Sales grew 3 percent, reflecting increases across all U.S. businesses, driven by strong volume growth and the benefit of price increases.

First-quarter sales results also reflected 3 percentage points of unfavorable foreign currency exchange rates and higher trade promotion spending. Volume for the first quarter also increased 3 percent.