Clorox to Report 'Softer' Fiscal Q3 Results, RBC Says

MT Newswires Live
Apr 29

Clorox (CLX) is expected to report a "softer" fiscal Q3, primarily due to sluggish consumption and category trends, RBC Capital Markets analysts said in a Tuesday note.

Analysts said that it would be appropriate for the company to lower its full-year guidance due to heightened macroeconomic volatility.

Clorox is scheduled to report its fiscal Q3 financial results on Thursday.

"Given that we expect more bad news than good, we see a negative risk to reward this quarter," RBC said.

Analysts said that while Clorox's share performance is improving, the conflict in the Middle East likely impacts both its top and bottom line in fiscal Q4.

RBC has a sector perform rating and a $127 price target on the stock.

Price: 97.73, Change: +1.07, Percent Change: +1.11

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