Clorox Is Raising Prices to Combat Inflation
Clorox (NYSE: CLX) reported fiscal 2021 first-quarter earnings on Nov. 1 -- to shareholders' delight. The company said demand for its products was better than expected in the quarter, driven by the surge of the delta variant.
That isn't to say all was well in the report. Management also noted that the cost of inputs and transporting its products increased faster than they thought. As a result, the company will be raising prices on its products to help offset the impact.
Clorox stock is trading at a price-to-earnings ratio near its decade high. Image source: Getty Images.
Source Fool.com
