Clorox Shares Drop 6% Following Q4 EPS Miss and Disappointing 2023 Outlook

2022.08.04 01:30

Clorox Shares Drop 6% Following Q4 EPS Miss and Disappointing 2023 Outlook

By Davit Kirakosyan

Clorox (NYSE:CLX) shares were trading nearly 6% lower after-hours following the company’s reported Q4 results, with revenue coming in at $1.8 billion (flat year-over-year), compared to the consensus estimate of $1.86 billion. Q4 EPS came in at $0.93, in line with the consensus estimate.

Organic sales grew 1% year-over-year. The three-year average growth rate for net sales was 3%.

The company expects full 2023-year EPS in the range of $3.82-$4.22, worse than the consensus estimate of $5.26. Net sales growth is expected to be in the range of (4%)-2% compared to 2022. Organic sales growth is expected to be in the range of (3%)-3%.

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