Consumer products maker The Clorox Company (CLX) on Friday posted a sharp uptick in fiscal second quarter earnings and raised its full-year sales guidance.
The Oakland, CA-based company reported second quarter net income of $105 million, or 79 cents per share, compared with $21 million, or 15 cents per share, in the year-ago period. Last year’s results were hampered by one-time charges.
On average, Wall Street analysts expected a smaller profit of 68 cents per share, although that total may not compare with CLX’s reported results.
Revenue rose 3% from last year to $1.22 billion. On average, Wall Street analysts expected slightly lower revenue of $1.2 billion.
Looking ahead, Clorox said it still expects full-year 2012 earnings to range from $4 to $4.10 per share, while analysts are looking for $4.07 per share for the year. CLX did, however, boost its 2012 revenue outlook to a 2% to 4% growth range, up from 1% to 3% previously.
Clorox shares rose $1.82, or +2.7%, in premarket trading Friday.
The Bottom Line
Shares of Clorox (CLX) have a 3.49% dividend yield, based on last night’s closing stock price of $68.73. The stock has technical support in the $64 price area. The stock is trading near all-time high levels of $71-$74 price levels.
The Clorox Company (CLX) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.