Executive Summary

• Clorox reported fiscal 2Q16 revenues of $1.3 billion, flat year over year and slightly below the consensus estimate.
• Diluted EPS from continuing operations were $1.14, up 18% year over year and exceeding the consensus estimate of $1.05.
• Cleaning and Lifestyle products each posted a 2% volume gain. Clorox Disinfecting Wipes were up by double digits, and Natural Personal Care products posted double-digit volume growth for the second year in a row.
• The company raised its fiscal 2016 EPS guidance to $4.75–$90 from $4.68–$4.83 due to expectations of higher EBIT margins.