Clorox sales jump 15% on strong demand for cleaning products, raises forecast

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Family Dollar Store, anti-bacterial wipes and cleaning products.

Jeff Greenberg | Getty Images

Clorox on Friday reported that its fiscal-third quarter sales climbed 15% as consumer demand for its cleaning products soared in response to the coronavirus pandemic.

Shares of the company rose 3% in premarket trading.

Here’s what the company reported for the quarter ended March 31:

  • Earnings per share: $1.89
  • Revenue: $1.78 billion

Clorox reported fiscal third-quarter net income of $241 million, or $1.89 per share, up from $187 million, or $1.44 per share, a year earlier.

Net sales rose 15% to $1.78 billion.

Wall Street anticipated earnings per share of $1.67 on revenue of $1.71 billion, based on a survey of analysts by Refinitiv. However, it’s difficult to compare reported earnings to analyst estimates for Clorox’s quarter, as the coronavirus pandemic continues to hit global economies and makes earnings impact difficult to assess.

Read the full earnings report here.

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