BUZZ-Clorox shares rise as quarterly results exceed expectations

November 3 - ** Shares of bleach maker Clorox (CLX.N) rose about 3% in premarket trading to $92.50

** The company reported first-quarter results on Monday, with sales beating expectations (link), driven by the addition of Purell maker GOJO Industries and a base effect from last year's ERP system-related disruption

** Thanks to increased sales volume and cost savings, the company's quarterly profits also exceeded market expectations

** The report shows first-quarter sales of $1.91 billion, compared to analyst expectations of $1.88 billion—data compiled by LSEG

** Quarterly adjusted earnings per share were $1.55, higher than the expected $1.06

** The company maintained its forecast for adjusted earnings per share for fiscal 2027, but management said they now expect actual results to be near the lower end of the guidance range

** “The cost environment has become more challenging, and our updated outlook reflects higher inflationary pressures,” said CEO Linda Rendle

** As of the close of the last trading day, CLX has fallen about 11% year-to-date

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