- Clorox (NYSE:CLX) reports sales rose 3% on a currency-neutral basis in FQ2.
- Volume was up 1% during the period.
- Gross margin increased 210 bps to 44.6% as favorable commodity costs pitched in. The margin rate was the highest in five years for a FQ2.
- Segment revenue: Cleaning $457M (+2%, 2% volume growth), Household $375M (+1%, flat volume growth), Lifestyle $251M (+2%, 2% volume growth), International $262M (-7%, flat volume growth).
- The company expects flat to 1% sales growth for FY16 and EPS of $4.75-$4.90 vs. $4.68-$4.83 prior and $4.88 consensus.
- CLX unchanged in premarket action.