3 Things You'll Want to Know When Clorox Announces Earnings
Clorox (NYSE: CLX), the maker of some of the most recognized consumer brand name products, is benefiting from the surge in demand due to the coronavirus pandemic. Its cleaning and disinfecting items are in high demand in this coronavirus-induced pandemic. In fact, several of its products, including Pine-Sol, Clorox Disinfecting Wipes, and Clorox Wet Mopping Cloths, have received approval for COVID-19 kill claims from the Environmental Protection Agency. The company expects to report solid results when it releases its first quarter earnings for fiscal 2021 on Nov. 2. Here are three important metrics investors should focus on in its Q1 report.
Sales are surging for Clorox. Image source: Getty Images.
Investors will first want to keep an eye on the company's overall revenue growth. The top line increased 22% year over year in the most recent quarter. With people spending more time at home, the company's cleaning and disinfecting products are in big demand in order to help slow the coronavirus spread. Clorox is forecasting elevated demand for its products to continue for at least the first half of its fiscal year 2021. Indeed, coronavirus cases are surging in several parts of the world, which could lead to elevated sales for the foreseeable future.
Source Fool.com