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Dec 31, 2020
Clorox Q2 2021 Earnings Report
Reported sales growth and an increase in diluted net earnings per share for its second quarter of fiscal year 2021.
Key Takeaways
Clorox reported a 27% increase in sales and a 39% increase in diluted earnings per share for the second quarter of fiscal year 2021. Organic sales grew by 26%.
Sales increased 27%, driven by double-digit sales growth in three of four segments due to COVID-19 and related behavioral shifts.
Organic sales grew 26%.
Gross margin increased 130 basis points to 45.4%.
Diluted EPS of $2.03, representing a 39% increase.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Clorox’s fiscal year sales are now expected to grow between 10% and 13%. Fiscal year organic sales are now expected to grow in the 10% to 13% range. Fiscal year 2021 diluted EPS to increase between 9% and 12%, or $8.05 to $8.25.
Positive Outlook
- Fiscal year sales are now expected to grow between 10% and 13%.
- Fiscal year organic sales are now expected to grow in the 10% to 13% range.
- Fiscal year diluted EPS to increase between 9% and 12%, or $8.05 to $8.25.
- Gross margin is now expected to be down slightly.
- Advertising and sales promotion spending is still anticipated to be about 11% of sales, based on an increase to 12% in the back half of the fiscal year.
Challenges Ahead
- Gross margin is now expected to be down slightly, reflecting higher manufacturing and logistics costs and increased commodity costs.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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