Clorox Co raised its full-year profit and sales forecasts on Thursday, as households kept up their heightened cleaning regimen with COVID-19 cases surging in the United States and stocked more of its disinfecting products.
To keep up with the pandemic-fueled demand for bleaches, wipes and cleaners, Clorox has been running its factories round the clock, using third-party suppliers and even transporting products via air.
The company said it expects fiscal 2021 organic sales to rise in the range of 10% to 13%, compared with a prior forecast of a 5% to 9% increase.
The company also said it expects full-year earnings per share to be between $8.05 and $8.25, compared with a prior forecast of $7.70 to $7.95.
Its net sales rose to $1.84 billion in the second quarter ended Dec. 31 from $1.45 billion a year earlier, beating the average Wall Street estimate of $1.75 billion, according to IBES data from Refinitiv.
Shares of the company rose 1% in low volumes in premarket trading.
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