Clorox Expected to Post Fiscal Q1 Results in Line With Consensus, RBC Says

MT Newswires Live00:06

Clorox's (CLX) fiscal Q1 results are expected to be in line with Street estimates that were cut in October, RBC Capital Markets said in a Thursday note.

Reported results will vary from scanner data, with the company's ERP transition impacting the quarter's shipment dynamics, the brokerage said. This impact is estimated to translate to an 18-point benefit that will drive reported organic sales to outstrip tracked channel data, RBC noted.

Channel feedback is negative for several parts of Clorox's business and margins continue to face significant pressure, mostly freight-driven, the investment firm added.

The company is set to release its fiscal Q1 results on Nov. 2.

RBC has a sector perform rating on Clorox, with a $110 price target.

Price: 88.32, Change: +1.48, Percent Change: +1.70

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