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Clorox Q1 Profit Surges 23%, Helped by Swine Flu Fears (CLX)

By Dividend.com Staff
November 2nd, 2009

clorox-q1-profit-surges-23-helped-by-swine-flu-fears-clx

Cleaning products maker The Clorox Company (CLX) on Monday posted 23% higher first quarter earnings, propelled by higher consumer spending on disinfecting products amid fears over the swine flu.

The Oakland-based company reported fiscal first quarter net income of $157 million, or $1.11 per share, up from $128 million, or 90 cents per share, in the year-ago period.

Revenue edged down less than 1% from last year, to $1.37 billion.

On average, Wall Street analysts expected a much lower profit of 95 cents per share, on smaller sales of $1.34 billion.

Looking ahead, the company forecast full-year 2010 earnings of $4.05 to $4.20 per share, up from a prior outlook for $4 to $4.15. On average, analysts currently expect $4.18 per share for the year.

Clorox shares rose 61 cents, or +1%, in morning trading Monday.

The Bottom Line
We have been recommending shares of CLX since July 30, when the stock was trading at $60.26. The company has a 3.38% dividend yield, based on Friday’s closing stock price of $59.23.

The Clorox Company (CLX) is a “recommended” dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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Disclaimer: Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. The author is not registered as an investment adviser. The author may or may not hold positions in the securities mentioned in this article or video. The author relies upon the "publisher's exclusion" from the definition of "investment adviser" as provided under Section 202(a)(11) of the Investment Advisers Act of 1940 and corresponding state securities laws.