Clorox Slashes FY21 Earnings Outlook - Quick Facts

(RTTNews) - While reporting financial results for the third quarter on Friday, consumer goods maker Clorox Co. (CLX) slashed its earnings guidance for the full-year 2021, due to an increasingly elevated cost environment, while maintaining annual sales and organic sales growth outlook.

For fiscal 2021, the company now projects earnings in a range of $5.94 to $6.14 per share and adjusted earnings in a range of $7.45 to $7.65 per share on annual sales growth of 10 to 13 percent and organic sales growth of 10 to 13 percent.

Previously, the company expected earnings in the range of $8.05 to $8.25 per share on annual sales growth of 10 to 13 percent and organic sales growth of 10 to 13 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $8.35 per share on sales growth of 12.4 percent to $7.56 billion for the year. Analysts' estimates typically exclude special items.

"Looking ahead, our portfolio continues to play a meaningful role in addressing consumer megatrends that have accelerated in the last 12 months, positioning us well to fulfill our ambition to accelerate long-term, profitable growth," said CEO Linda Rendle.