May 1 Clorox Co, the consumer products
maker, reported a better-than-expected third-quarter profit on
Wednesday, boosted by cost cuts and price increases, but sales
Like peer Energizer Holdings Inc, Clorox managed to
cut selling and administrative costs to offset soft
Clorox, best known for its namesake bleach, managed to cut
those expenses mainly by spending less on information technology
systems in Latin America. It also had lower costs for employee
Net earnings for the quarter ended March 31 were $134
million, or $1.00 a share, compared with $134 million, or $1.02
a share, a year earlier.
Excluding items, it earned $1.06 a share, while analysts, on
average, expected $1.05, according to Thomson Reuters I/B/E/S.
Clorox, which also makes Brita water filters and Burt's Bees
skin care products, said sales rose 0.7 percent to $1.41
billion, falling short of the average analyst estimate of $1.44
Shares fell 1.2 percent to $85.25 in premarket trading.