Loading...
•
Mar 31, 2021
Clorox Q3 2021 Earnings Report
Clorox's sales remained flat, but the company is on track for its best full-year top-line growth in over 20 years.
Key Takeaways
Clorox reported flat sales in Q3 2021 compared to the previous year, with a diluted net loss per share of $0.49. Adjusted EPS was $1.62, a 14% decrease year-over-year. The company is on track to deliver its best full-year top-line growth in more than 20 years.
Sales were flat compared to 15% growth in the year-ago quarter.
Diluted net loss per share was 49 cents, a 126% decrease compared to the year-ago quarter, impacted by a pre-tax noncash impairment charge of $329 million.
Adjusted EPS was $1.62, a 14% decrease versus the year-ago quarter.
Gross margin decreased by 320 basis points to 43.5%.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Clorox expects fiscal year sales to grow between 10% and 13% and adjusted EPS to increase between 1% and 4%.
Positive Outlook
- Fiscal year sales are still expected to grow between 10% and 13%.
- Fiscal year organic sales continue to assume a 10% to 13% growth range.
- Fiscal year selling and administrative expenses are now expected to be below 14% of sales.
- Advertising and sales promotion spending is still anticipated to be about 11% of sales.
- The company’s effective tax rate is still expected to be in the range of 21% to 22%.
Challenges Ahead
- Gross margin is now expected to be down, primarily reflecting higher commodity and manufacturing and logistics costs.
- Fiscal year 2021 diluted EPS is expected to decrease between 19% and 16%.
- Expectation of moderating demand over the balance of the fiscal year.
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
Loading earnings performance data...
Loading earnings reaction data...