The Clorox Company Earnings: Why CLX Stock Is Sliding Lower Today

CLX missed EPS and revenue estimates for the quarter

The Clorox Company earnings report for its fiscal third quarter of 2019 has CLX stock falling on Wednesday.

The Clorox Company Earnings: Why CLX Stock Is Sliding Lower Today

The Clorox Company (NYSE:CLX) earnings report for its most recent quarter includes earnings per share of $1.44. This is better than the company’s earnings per share of $1.37 from the same time last year. However, it was a blow to CLX stock by missing Wall Street’s earnings per share estimate of $1.45 for the period.

The Clorox Company earnings for its fiscal third quarter of the year has net income coming in at $187 million. This is up from the company’s net income of $181 million reported in its fiscal third quarter of 2018.

Revenue reported by The Clorox Company in its fiscal third quarter of 2019 comes in at $1.55 billion. That’s an increase over the company’s revenue of $1.52 billion reported in the same period of the year prior. However, it was still bad news for CLX stock by coming in below analysts’ revenue estimate of $1.57 billion for the quarter.

The Clorox Company earnings report for its fiscal third quarter of the year also includes an update to its outlook. The company says that it now expects earnings per share for fiscal 2019 to range from $6.25 to $6.35. Wall Street is looking for the company to report earnings per share of $6.32 for the fiscal full year of 2019.

CLX stock was down 4% as of Wednesday morning, but is up 5% since the start of the year.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2019/05/the-clorox-company-earnings-hit-clx-stock/.

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