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News Breaks | | | | February 4, 2013 | | 14:33 EDT |  | CLX | Clorox increasingly confident in 2H13 outlook
On the company's Q2 earnings conference call, Clorox (CLX) CEO Don Knauss said based on the 5% sales and 10% EPS growth in 1H13, continued growth in all categories, and a pipeline of second half product innovation, he felt "more optimistic about the full year outlook." For FY13, Clorox anticipates free cash flow of 9%-10% of sales. The company continues to expect EBIT margin will increase by 25-50 bps for FY13, reflecting strong cost savings and the benefit of price increases. Commodity costs are estimated to be about flat versus the prior year. Capital expenditures are expected to be approximately $200M-$210M. Management did note that its updated FY13 outlook reflects a range of 5c-10c of diluted earnings per share impact from an expected currency devaluation in Venezuela and the continued difficulty of taking pricing in that country. Overall, management is increasingly bullish on the company's prospects for the second half of FY13. | |
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News For CLX From The Last 14 Days Check below for free stories on CLX the last two weeks. |
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| May 17, 2013 | | 16:34 EDT | | CLX | Clorox board authorizes new $750M share repurchase, cancels old programs
Clorox disclosed in a regulatory filing that on May 13, the board of directors of the company terminated its previously announced May 13, 2008 and May 18, 2011 share repurchase authorizations and authorized an updated share repurchase program for an aggregate purchase amount of up to $750M. This reduces the total dollar value of shares that the company could repurchase under its open market share repurchase program from $821M to $750M. This $750M open market share repurchase program is in addition to the company’s previously announced evergreen repurchase program to reduce or eliminate dilution in connection with issuances of stock under the company’s stock incentive plans. | | | May 15, 2013 | | 10:13 EDT |  | CLX | On The Fly: Analyst Downgrade Summary
 Subscribe for More Information | | | 06:31 EDT | | CLX | Clorox downgraded to Neutral from Outperform at Credit Suisse
Subscribe for More Information | | | May 14, 2013 | | 05:37 EDT | | CLX | Clorox raises quarterly dividend to 71c per share from 64c per share
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