Clorox (NYSE:CLX) reported its Q3 results, with EPS of $1.51 coming in better than the consensus estimate of $1.22. Revenue grew 6% year-over-year to $1.92 billion, beating the consensus estimate of $1.82B, driven largely by a favorable price mix, partially offset by lower volume.
"Our strong results this quarter reflect solid execution against our priorities to rebuild margin and drive top-line growth amid a challenging operating environment. We continue to take a broad set of actions to address persistent cost inflation, including pricing and cost savings efforts,” said CEO Linda Rendle.
The company raised its full 2023-year sales and profit guidance as increased prices of its products are expected to overcome the decrease in demand.
2023 EPS is seen at $4.35-$4.50, better than the consensus of $4.30. Net sales growth is expected in the range of 1%-2%, compared to its prior (4%)-(2%) guidance range.