Clorox earnings boosted by high demand for cleaning products

syamfx2020

Recruit
Messages
43
antonio-manaligod-GIXas6jfuWI-unsplash (1).jpg

The cleaning- and consumer-products company Clorox (NYSE: CLX) reported strong quarterly earnings on Monday. According to the results the company had sales of $ 1.92B in the first quarter of its fiscal year ending September, up 27% from $ 1.506B a year earlier.

During these days, many industries are facing major disruptions and slowdowns while cleaning firms have benefited from the outbreak as consumers and businesses adopt more thorough cleaning and disinfecting routines.

  • Earnings per share: $3.22 vs. $2.32 expected
  • Revenue: $1.92 billion vs. $1.76 billion expected
“At a time of global uncertainty, these results speak to the strength of our brands and passion of our people as they stepped up to meet the needs of consumers around the world,” said Clorox CEO Linda Rendle. “Our priority remains maximizing the supply of our products — leveraging all available resources to help ensure people can access what they need” she added.

Most people know about Clorox from its cleaning supplies while the company also makes common household brands like Kingsford Charcoal, Liquid Plumr, and Fresh Step kitty litter.

HASH


Clorox’s stock closed almost 4% higher on Monday after the company posted stronger-than-expected earnings results. Clorox shares have risen 35% since the beginning of the year.

Read more- https://gulfbrokers.com/en/clorox-earnings-boosted-by-high-demand-for-cleaning-products
 
Top