Clorox Co (CLX.N) posted a fourth-quarter profit that fell less than expected as it absorbed higher material costs and repurchased shares, and said it expects costs to rise less than it previously thought in the current fiscal year. The company, which last month rebuffed two takeover offers from Carl Icahn, also said on Wednesday it is raising some U.S. prices this month, including an average price hike of 12 percent on its namesake liquid bleach. Clorox earned $169 million, or $1.26 per share, in the fiscal fourth quarter that ended in June, down from $171 million, or $1.20 per share, on more shares a year earlier. Analysts, on average, expected it to earn $1.19 per share, according to Thomson Reuters I/B/E/S.
The Clorox Company (Clorox) is a manufacturer and marketer of consumer and institutional products. Shares of CLX fell by 0.11% or $-0.08/share to $70.21. In the past year, the shares have traded as low as $60.56 and as high as $75.44. On average, 1631400 shares of CLX exchange hands on a given day and today's volume is recorded at 7714.
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