“Clorox Co has been seeking to divest its vitamins, minerals and supplements (VMS) business after efforts to scale it led to major losses, according to four people familiar with the situation,” Reuters reported at the end of March.
Clorox Reports Q3 Fiscal Year 2021 Results, Updates Fiscal Year Outlook
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OAKLAND, Calif., April 30, 2021 /PRNewswire/ In its fiscal third quarter ending March 31, 2021, The Clorox Company (NYSE: CLX) reported flat sales and diluted net loss per share (diluted EPS) of 49 cents, a 126% decrease compared to the year-ago quarter.
GAAP earnings per share reflect a pre-tax noncash impairment charge of $329 million (or $2.11 diluted EPS). The impairment charge is the result of an adjustment to the carrying values of goodwill, trademarks and other assets in the Better Health Vitamins, Minerals and Supplements (VMS) business. On an adjusted basis, Clorox delivered diluted net earnings per share (adjusted EPS
The U.S. firm reports lower than expected sales in fiscal Q3.
Clorox gave weak guidance for the full financial year on Friday.
Clorox Co. (NYSE: CLX) said on Friday its sales missed estimates in the fiscal third quarter. The company swung to a loss in Q3 attributed to a pre-tax non-cash impairment charge related to its Better Health Vitamins, Minerals and Supplements business. Clorox gave weaker-than-expected guidance for the full year on Friday
1. Financial performance
Clorox reported £44.15 million of net loss in the third quarter that translates to 35.47 pence per share. In the comparable quarter of last year, it had posted £174.44 million of earnings, or £1.37 per share.
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