Clorox Boosts FY20 EPS Outlook - Quick Facts

(RTTNews) - While reporting financial results for the second quarter on Tuesday, Clorox Co. (CLX) raised its earnings guidance for the full-year 2020, while reaffirming annual sales growth outlook.

For fiscal 2020, the company raised its earnings guidance to a range of $6.10 to $6.25 per share from the prior forecast range of $6.05 to $6.25 per share, while continuing to project annual sales change between down in low single digits and up 1 percent. Fiscal year organic sales are now expected to be about flat to 2 percent growth, compared to the prior forecast for a 1 to 3 percent growth.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $6.14 per share on sales decline of 0.5 percent to $6.18 billion for the year. Analysts' estimates typically exclude special items.

"We have confidence we're taking the right steps as we expect to return to growth in the back half of the fiscal year behind strong investments in our robust innovation plans to support distribution. Importantly, we remain committed to strong execution behind our IGNITE strategy to deliver long-term shareholder value," said Chair and CEO Benno Dorer.