Wide-Moat Clorox Cleans Up in 2Q With Sales and Profit Improvement, but Shares Rich
The most pressing question heading into the quarter was whether Clorox would be able to raise prices to offset inflationary headwinds without incurring a sustained hit to volumes. And we believe results give credence to our contention Clorox is weathering the current challenges well. In the quarter, Clorox chalked up 3% organic sales growth and 70 basis points of expansion at the gross margin line to 43.7%. Despite higher commodity and logistics costs, which ate into gross margins to the tune of...Clorox is a manufacturer and marketer of consumer products. The company sells its products through mass retailers, grocery outlets, warehouse clubs, dollar stores, home hardware centers, drug, pet and military stores, third-party and owned e-commerce channels, and distributors. The company has four reportable segments: Cleaning, which consists of laundry, home care and other products; Household, which consists of charcoal, bags, wraps and containers, cat litter, and digestive health products; Lifestyle, which consists of food products, water-filtration systems and filters, natural personal care products, and dietary supplements; and International, which consists of products sold outside the United States.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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