Clorox Guides FY22 Well Below Estimates - Quick Facts

(RTTNews) - While reporting financial results for the fourth quarter on Tuesday, consumer goods maker Clorox Co. (CLX) initiated its earnings and sales guidance for the full-year 2022, well below analysts' expectations.

For fiscal 2022, the company now projects earnings in a range of $5.05 to $5.35 per share and adjusted earnings in a range of $5.40 to $5.70 per share on annual sales and organic sales decline of 2 to 6 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $7.67 per share on a sales decline of 1.1 percent to $7.38 billion for the year. Analysts' estimates typically exclude special items.

The projected decline in sales reflect lower sales in the first half from the high single digits to low double digits, primarily due to consumer demand, which remains uncertain.

"We're also making key multiyear investments to accelerate our digital transformation and strengthen our capabilities and brands to drive profitable growth over the long term," said CEO Linda Rendle.