Dividend aristocrat Clorox (CLX) reports organic sales rose 17% and diluted EPS up 31% in Q3-2020, which ended March 31, 2020.
The maker of cleaning and household products is benefiting from a boost by demands for disinfecting and other cleaning products during the coronavirus. Clorox delivered earnings of $241 million, or $1.89 diluted EPS, compared to $187 million, or $1.44 diluted EPS, in the year-ago quarter, representing a 31% increase in diluted earnings per share.
Clorox’s dividend yield is around 2.25% at the time of this writing. Based on the good results, Clorox Co. shares soared 2.5% in premarket trade Friday. This stock is already showing a strong year-to-date performance of +20% and is the best performing dividend aristocrat in 2020 so far.
The forecast is raised as well. The Clorox fiscal year 2020 Outlook is now:
- 4% to 6% sales growth (6% to 8% organic sales growth)
- $6.70 to $6.90 diluted EPS range (6% to 9% increase versus year ago)
Source: press release q3-2020 results