Clorox Stock Climbs After Q2 Results, Strong Forward Guidance
Portfolio Pulse from Erica Kollmann
Clorox Company (NYSE:CLX) shares rose after reporting Q2 earnings of $1.82 per share, beating estimates by 16.67%. However, sales missed estimates and decreased by 5.75% year-over-year. Despite challenges, Clorox provided strong forward guidance.
August 01, 2024 | 9:55 pm
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Clorox reported Q2 earnings of $1.82 per share, beating estimates by 16.67%, but sales missed estimates and decreased by 5.75% YoY. The company provided strong forward guidance, leading to a 4.37% increase in share price after-hours.
The significant earnings beat and strong forward guidance outweigh the sales miss and YoY decrease, leading to a positive short-term impact on Clorox's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100