Clorox Co. (NYSE: CLX) has announced an impressive year-over-year rise in its earnings for the second quarter, surpassing Wall Street expectations. The company recorded a net income of $193 million, equating to earnings of $1.54 per share. This marks a notable increase from the previous year's net income of $93 million, or $0.75 per share.
After excluding one-time items, Clorox Co.'s adjusted earnings were $1.55 per share for the quarter. Analysts had projected the earnings to be around $1.40 per share, usually calculated without special items, and the company exceeded these forecasts.
However, Clorox Co. experienced a decline in revenue, falling by 15.3% to $1.686 billion from the previous year's $1.990 billion.
Summary of Clorox Co.'s Earnings (GAAP):
- Net Income: $193 million compared to last year’s $93 million.
- Earnings Per Share (EPS): $1.54 compared to $0.75 the previous year.
- Revenue: $1.686 billion versus last year’s $1.990 billion.
**Outlook:** Clorox Co. has provided full-year EPS guidance ranging from $5.52 to $5.92.
