NYSE$CLX
Clorox Co · Q3 2020 earnings
Q3 2020 earnings · · Investor relations
Briefing
Reported sales growth and an increase in diluted net earnings per share for its third quarter of fiscal year 2020.
Clorox reported a 15% increase in sales and a 31% increase in diluted earnings per share for Q3 2020. The company experienced sales and earnings growth across all reportable segments, driven by strong demand for disinfecting products and broad-based growth across its portfolio.
- Sales increased by 15%, driven by an 18-point volume growth.
- Organic sales increased by 17%.
- Gross margin increased by 330 basis points to 46.7%.
- Diluted EPS increased by 31% to $1.89.
Headline financials
Revenue & EPS history
Clorox · Revenue · Quarterly
$1.78B
Revenue by segment
Clorox · $824M total across 3 segments · Q1 2024
- Household$325M-23.2%39.4%
- International$270M-5.3%32.8%
- Lifestyle$229M-28.4%27.8%
Forward guidance
Clorox's fiscal year sales outlook is now expected to be in the 4% to 6% growth range, driven by the impact of COVID-19.
Tailwinds
- Sales were tracking in line with the company’s original plan to return to organic sales growth in the back half of the fiscal year.
- Increased product demand driven by strong customer plans.
- Meaningful back-half innovation programs.
- Higher consumer investments, leading to expanded distribution across the portfolio.
- Gross margin is now expected to be up strongly, reflecting the continued benefit of operating leverage driven by sales momentum and cost savings initiatives.
Headwinds
- About 2 points of foreign exchange headwinds.
- Temporary investments to support employees who are on the front lines involved in product manufacturing and shipping, including increased wages and benefits as well as enhanced operational safety measures.
- Higher transportation and warehousing costs to support greater product demand, such as expedited shipping to customers.
- Advertising and sales promotion spending is expected to be about 10% of sales.
- Selling and administrative expenses to be about 15% of sales, due to higher incentive compensation costs that are anticipated this fiscal year, consistent with the company’s commitment to a pay-for-performance philosophy.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2020
+0.0%
Avg return
Earnings day
+0.3%
Avg return
5 days after
+1.0%
Avg return
30 days after
55%
39 / 71 earnings
Positive
+9.5%
Q4 2023
Best reaction
-15.3%
Q2 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2026 | +0.5% | -6.7% | -6.6% | |
| Q2 2026 | +4.6% | +4.0% | -0.3% | |
| Q1 2026 | +1.1% | -1.6% | -3.7% | |
| Q3 2025 | -2.4% | -2.6% | -8.0% | |
| Q2 2025 | -7.2% | -7.1% | -7.1% | |
| Q1 2025 | +1.1% | +3.6% | +6.6% | |
| Q4 2024 | +9.2% | +8.6% | +20.0% | |
| Q3 2024 | -6.2% | -7.2% | -13.4% | |
| Q2 2024 | +7.6% | +6.6% | +4.7% | |
| Q1 2024 | +4.5% | +9.6% | +22.2% | |
| Q4 2023 | +9.5% | +7.9% | +2.3% | |
| Q3 2023 | +5.1% | +1.5% | -5.1% | |
| Q2 2023 | +7.2% | +5.0% | +7.9% | |
| Q1 2023 | -5.7% | -3.7% | +2.6% | |
| Q4 2022 | -4.2% | +0.5% | -0.7% | |
| Q3 2022 | +2.9% | +7.3% | -1.9% | |
| Q2 2022 | -15.3% | -14.2% | -13.3% | |
| Q1 2022 | +1.5% | +0.2% | +1.7% | |
| Q4 2021 | -8.6% | -10.3% | -6.2% | |
| Q3 2021 | -2.9% | -1.0% | -5.0% | |
| Q2 2021 | -6.5% | -8.4% | -9.9% | |
| Q1 2021 | +2.4% | +5.2% | -2.7% | |
| Q4 2020 | +0.5% | +0.4% | -5.4% | |
| Q3 2020 | +6.9% | +7.2% | +10.6% | |
| Q2 2020 | +6.1% | +6.7% | +12.8% | |
| Q1 2020 | -2.5% | -2.0% | -1.7% | |
| Q4 2019 | -3.5% | -5.1% | -2.7% | |
| Q3 2019 | -6.9% | -7.2% | -6.8% | |
| Q2 2019 | +1.9% | +3.9% | +4.7% | |
| Q1 2019 | +0.6% | +2.7% | +8.4% | |
| Q4 2018 | +6.6% | +5.5% | +8.1% | |
| Q3 2018 | +1.4% | +3.4% | +3.1% | |
| Q2 2018 | -9.5% | -8.9% | -6.7% | |
| Q1 2018 | +2.2% | +0.9% | +10.4% | |
| Q4 2017 | +1.9% | +2.0% | +4.6% | |
| Q3 2017 | +1.7% | +1.4% | +5.0% | |
| Q2 2017 | +2.9% | +5.7% | +13.9% | |
| Q1 2017 | -4.0% | -4.4% | -4.6% | |
| Q4 2016 | +2.8% | +1.4% | +1.3% | |
| Q3 2016 | +1.8% | — | — | |
| Q2 2016 | -5.1% | — | — | |
| Q1 2016 | +2.2% | — | — | |
| Q4 2015 | +4.4% | — | — | |
| Q3 2015 | +0.4% | — | — | |
| Q2 2015 | +0.3% | — | — | |
| Q1 2015 | +1.2% | — | — | |
| Q4 2014 | -0.6% | — | — | |
| Q3 2014 | -1.2% | — | — | |
| Q2 2014 | -2.1% | — | — | |
| Q1 2014 | -0.6% | — | — | |
| Q4 2013 | -0.7% | — | — | |
| Q3 2013 | -0.5% | — | — | |
| Q2 2013 | +1.0% | — | — | |
| Q1 2013 | +1.0% | — | — | |
| Q4 2012 | -0.6% | — | — | |
| Q3 2012 | -4.3% | — | — | |
| Q2 2012 | +1.0% | — | — | |
| Q1 2012 | -2.9% | — | — | |
| Q4 2011 | +4.1% | — | — | |
| Q3 2011 | +1.4% | — | — | |
| Q2 2011 | +1.3% | — | — | |
| Q1 2011 | -2.2% | — | — | |
| Q4 2010 | +0.4% | — | — | |
| Q4 2008 | +0.4% | — | — | |
| Q3 2010 | -1.5% | — | — | |
| Q3 2009 | -1.5% | — | — | |
| Q2 2010 | -0.1% | — | — | |
| Q2 2009 | -0.1% | — | — | |
| Q1 2009 | -0.9% | — | — | |
| Q4 2009 | -0.9% | — | — | |
| Q1 2010 | -0.9% | — | — |
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