Shares of Clorox Co (NYSE:CLX) are trading higher on Tuesday after the company reported better-than-expected first-quarter financial results. Clorox also affirmed its FY27 adjusted EPS guidance above estimates.
- Clorox shares are trending higher. What’s pushing CLX stock higher?
Clorox Beats Q1 Expectations
Clorox reported first-quarter adjusted EPS of $1.55, up 82% from a year earlier and above the $1.07 analyst estimate. Total revenue rose 33% to $1.91 billion, topping the $1.88 billion estimate. The company noted that organic sales were up 18%.
Gross margin fell 130 basis points to 40.4%, mainly due to higher commodity, manufacturing and logistics costs. The company now expects fiscal 2027 input cost inflation of $240 million, up $40 million from its prior expectation.
Clorox affirmed fiscal 2027 adjusted EPS guidance of $5.70 to $6.00, versus the $5.70 estimate. It also affirmed GAAP EPS guidance of $5.41 to $5.71, versus the $5.70 estimate, and sales guidance of $7.594 billion to $7.661 billion, versus the $7.631 billion estimate.
Analysts Adjust Price Targets
Multiple analysts raised price targets on Clorox stock following the company’s quarterly results.
- UBS maintained a Neutral rating on Clorox and raised its price target to $96.
- Wells Fargo maintained an Equal-Weight rating and raised its price target to $90.
- JPMorgan maintained an Underweight rating and raised the price target to $86.
Clorox has a consensus Neutral rating among analysts with an average price target of $106, according to Benzinga data.
CLX Shares Move Higher
CLX Price Action: Clorox shares were up 2.22% at $91.90 at the time of publication on Tuesday, according to Benzinga Pro.
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