Clorox Q4 Profit Drops, Confirms Outlook For FY 2015 - Quick Facts

(RTTNews) - Consumer products company Clorox Co. (CLX) Friday said fourth-quarter net earnings declined to $170 million from $183 million in the prior year. Earnings per share fell to $1.29 from $1.37.

Earnings per share from continuing operations were $1.30, in comparison with $1.38 last year.

On average, 17 analysts polled by Thomson Reuters expected earnings of $1.35 per share for the quarter. Analysts' estimates typically exclude special items.

The latest results include higher manufacturing and logistics costs and increased commodity costs. Additionally, the company invested $20 million in incremental demand-building initiatives, impacting earnings per share by 10 cents.

Net sales were $1.511 billion, compared to $1.547 billion last year, hit by unfavorable foreign currency exchange rates and higher trade promotion spending, partially offset by the benefit of price increases. Analysts expected revenues of $1.52 billion.

Looking ahead, Clorox continues to anticipate fiscal 2015 earnings per share from continuing operations in the range of $4.35 to $4.50, and sales are expected to be about flat. Wall Street looks for earnings of $4.47 per share on revenues of $5.64 billion.