Clorox Updates FY17 Outlook - Quick Facts

(RTTNews) - While reporting its second-quarter financial results today, Clorox Co. (CLX) updated its financial outlook for fiscal 2017.

For fiscal 2017, Clorox now forecasts earnings from continuing operations in the range of $5.23 to $5.38 per share, compared to the prior range of $5.23 to $5.43 per share.

The revised earnings outlook reflects a 5-cent reduction in anticipated benefit from adopting Accounting Standards Update or ASU 2016-09, issued by the Financial Accounting Standards Board, related to the accounting of employee share-based payments.

Clorox now projects full-year sales growth to a range of 3 percent to 4 percent, compared to its previous sales outlook of 2 percent to 4 percent.

On average, analysts polled by Thomson Reuters expect the company to earn $5.33 per share on revenues of $5.97 billion for the year. Analysts estimates typically exclude special items.