Clorox Stock Shoots Higher After Hours: Here's Why
Portfolio Pulse from Adam Eckert
Clorox Co (NYSE:CLX) shares surged in after-hours trading following the announcement of better-than-expected Q2 financial results and an upward revision of its earnings guidance. The company reported Q2 revenue of $1.99 billion and EPS of $2.16, surpassing estimates of $1.8 billion and $1.10, respectively. This performance was attributed to increased volumes and a favorable price mix as Clorox recovered from an August cyber attack. The company has raised its full-year adjusted earnings guidance from $4.30-$4.80 per share to $5.30-$5.50 per share.
February 01, 2024 | 9:53 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Clorox Co reported higher than expected Q2 earnings and revenue, leading to a significant after-hours stock price increase. The company also raised its full-year earnings guidance.
The positive earnings report and raised guidance indicate strong company performance and future profitability, which typically lead to increased investor confidence and a rise in stock price. The after-hours price action reflects immediate market reaction.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100