What To Expect From Clorox's (CLX) Q1 Earnings

Consumer products giant Clorox (NYSE:CLX) will be reporting earnings tomorrow afternoon. Here's what you need to know.

Clorox beat analysts' revenue expectations by 10.3% last quarter, reporting revenues of $1.99 billion, up 16% year on year. It was an incredible quarter for the company, with an impressive beat of analysts' earnings estimates.

Is Clorox a buy or sell going into earnings? Read our full analysis here, it's free.

This quarter, analysts are expecting Clorox's revenue to decline 2.3% year on year to $1.87 billion, a reversal from the 5.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.38 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they are expecting the business to stay the course heading into earnings. Clorox has only missed Wall Street's revenue estimates once over the last two years, exceeding top-line expectations by 4% on average.

Looking at Clorox's peers in the household products segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Kimberly-Clark posted flat year-on-year revenue, beating analysts' expectations by 1.2%, and WD-40 reported revenues up 6.8%, in line with Wall Street's consensus estimates. Kimberly-Clark traded up 6.9% following the results while WD-40 was down 8.7%.

Read our full analysis of Kimberly-Clark's results here and WD-40's results here.

Growth stocks have been quite volatile to start 2024, and while some of the household products stocks have fared somewhat better, they have not been spared, with share price declining 4.3% over the last month. Clorox is down 3.1% during the same time and is heading into earnings with an average analyst price target of $154.1 (compared to share price of $146.89).

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