May 1, 2020 / 10:48 AM / a month ago

Clorox raises forecast, reports 15% rise in quarterly sales

May 1 (Reuters) - Clorox Co raised its annual forecast and reported a 15% rise in quarterly sales on Friday as people bought more bleach and other disinfectants because of the COVID-19 pandemic.

The Formula 409 maker's net sales rose to $1.78 billion from $1.55 billion in the third quarter ended March 31.

Net earnings jumped to $241 million, or $1.89 per share, in the quarter, from $187 million, or $1.44 per share, a year earlier.

Clorox said it expects full-year sales to rise between 4% and 6%, compared with a prior forecast of a low single-digit decrease to a 1% increase. It also raised its full-year earnings forecast to a range of $6.70 per share to $6.90 per share, from its prior outlook of $6.10 per share to $6.25 per share. (Reporting by Uday Sampath in Bengaluru; Editing by Amy Caren Daniel)

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