Clorox Co. (CLX) has reported an increase in its fourth-quarter earnings compared to the same period last year, surpassing Wall Street expectations.
The company's net income for the quarter was $216 million, or $1.73 per share, up from $176 million, or $1.42 per share, in the fourth quarter of the previous year.
On an adjusted basis, Clorox Co. posted earnings of $1.82 per share for the quarter, excluding special items.
Analysts had projected average earnings of $1.56 per share, based on data compiled by Thomson Reuters, which typically excludes special items.
Despite the earnings beat, the company's revenue for the quarter declined by 5.7%, falling to $1.903 billion from $2.019 billion in the same quarter last year.
Clorox Co. earnings summary (GAAP):
- Earnings (Q4): $216 million vs. $176 million last year
- EPS (Q4): $1.73 vs. $1.42 last year
- Revenue (Q4): $1.903 billion vs. $2.019 billion last year
