Shares of Clorox (NYSE: CLX) rose 5.6% on Friday after the consumer products giant announced strong quarterly results.
For its fiscal second-quarter 2024 ended Dec. 31, 2023, Clorox saw net sales climb 16% year over year to $1.99 billion, while adjusted (non-GAAP) earnings more than doubled to $2.16 per share. Analysts, on average, were only expecting earnings of $1.10 per share on revenue of $1.80 billion.
Underlying Clorox's outsized growth was a combination of favorable price mix and higher volumes as the company rebuilt customer inventories following a widely publicized cyberattack that targeted the company last August.
Source Fool.com