Clorox beats earnings expectations, while sales were in line

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Clorox Co. reported Monday a fiscal second-quarter profit that beat expectations, while sales matched views. The consumer products company's stock was still inactive in premarket trade. Net income fell to $182 million, or $1.40 a share, from $233 million, or $1.77 a share, in the same period a year ago, which included a one-time benefit from tax reform. The FactSet consensus for earnings per share was $1.30. Sales rose 4% to $1.47 billion, in line with the FactSet consensus, as better-than-expected cleaning and lifestyle segment sales offset a miss in household sales. The company affirmed its fiscal 2019 guidance ranges for sales growth of 2% to 4% and for EPS of $6.20 to $6.40. The stock has lost 2.8% over the past three months, while the SPDR Consumer Staples Select Sector ETF has given up 3.4% and the S&P 500 has slipped 0.6%.