WASHINGTON (dpa-AFX) - Consumer goods maker Clorox Company (CLX), Thursday said its third-quarter profit inched up from last year.
Net earnings for the quarter rose to $187 million or $1.54 per share from $186 million or $1.50 per share in the prior-year period.
Revenue was largely flat at $1.670 billion compared to $1.668 billion a year ago, while organic sales declined 1%.
Adjusted earnings per share increased 13% to $1.64 from $1.45 last year, driven by cost savings, lower advertising spending, and reduced selling and administrative expenses.
Gross margin declined to 43.2% from 44.6%, primarily reflecting higher manufacturing and logistics costs as well as unfavorable product mix.
By segment, Household sales rose 3% and International sales increased 8%, while Lifestyle sales declined 9%.
Looking forward, Clorox updated its fiscal year 2026 outlook and now expects net sales to decline about 6% and adjusted earnings per share between $5.45 and $5.65.
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