Clorox shares jump after it beats market expectations
Feb 4, 2019
Consumer goods maker Clorox posted its financial reports for the fourth quarter and took analysts by surprised after it showed the company beat Wall Street's expectations. Clorox earned $1.40 per share against a forecast of $1.30 and sales growth if 4% in the last quarter of the year for earnings of $1.47 billion by Dec 31. Clorox CEO Benno Dorer said that the company's pricing strategy and cost-reduction plans helped Clorox have a solid performance and be on track for earnings in 2019. The company expects earnings per share of about $6.40 but admits that the trade war and the tariffs could cut up to 7 cents of the price.