The Clorox Co. on Aug. 1 provided its profit forecast for fiscal 2020 as it reported results for the fourth quarter and fiscal year ended June 30.
The maker of Glad storage bags and Burt's Bees products said it expects diluted EPS for the full year to be in the range of $6.30 to $6.50. It expects diluted EPS to be more muted in the first half than in the second half as the company tries to return to growth in the charcoal and bags and wraps businesses.
Clorox also expects flat to 2% sales growth driven by the continued strong performance of the company's innovation program, partially offset by about 1 point of negative impact from foreign currency headwinds.
For the fourth quarter, the company's diluted EPS came in at $1.88, up 13% from $1.66 in the same year-ago period and above the S&P Global Market Intelligence estimate for normalized EPS of $1.84.
Net sales during the three months declined 4% year over year to $1.63 billion from about $1.69 billion.
For the fiscal year ended June 30, Clorox posted diluted EPS of $6.32, higher than the $6.26 reported the previous year and slightly ahead of the Market Intelligence estimate for normalized EPS of $6.30.
Net sales for the 12 months rose 1% year over year to $6.21 billion from $6.12 billion.