Analyst Consensus ?
ConsensusHold29 ratings
Bullish310.3%
Neutral2069.0%
Bearish620.7%
The Clorox Company · CLX · FY2026 Q3 · Calendar Q2 2026
Clorox Q3 FY26: EPS Beats but ERP Disruption and Input Costs Drive 10% Sell-Off
Clorox's Q3 FY26 results tell a story of an earnings beat that the market treated as a miss. Headline EPS of $1.64 exceeded the $1.55 consensus by 5.8%, and revenue of $1.67 billion was essentially in line. Yet shares fell approximately 10% on an abnormal basis — the disconnect centered on gross margin pressure from ERP implementation disruptions and elevated input costs, particularly oil-driven commodity inflation. The GOJO Industries acquisition, closed April 1, adds roughly 10% to quarterly revenue but brings near-term gross margin dilution of about 50 basis points and $30 million in incremental interest expense. Management maintained guidance and struck a confident tone, pointing to cleaning innovation (PURE, Scentiva), Glad share recovery, and cost-savings acceleration into FY27. However, the Fresh Step litter reinvention is advancing slower than anticipated, and the Food…
Reported After market closeNYSEConsumer Defensive
$11.70B market cap
90quality score
Company context
Snapshot as of publicationThe Clorox Company is a global manufacturer and marketer of both consumer and professional products, operating through four distinct segments: Health and Wellness, Household, Lifestyle, and International. The Health and Wellness division offers a range of cleaning solutions, including laundry additives and home care items under brand names such as Clorox, Clorox2, Scentiva, Pine-Sol, Liquid-Plumr, Tilex, and Formula 409. It also supplies professional cleaning and disinfecting products via the CloroxPro and Clorox Healthcare brands, alongside professional food service goods from Hidden Valley. Additionally, this segment provides vitamins, minerals, and supplements (VMS) within the United States, marketed under the RenewLife, Natural Vitality, NeoCell, and Rainbow Light labels. Dedicated to the U.S. market, the Household segment features cat litter products from Fresh Step and Scoop Away, food storage bags and wraps under the Glad brand, and grilling essentials like Kingsford charcoal.…
Earnings scorecard
Reported versus consensus
Reported EPS
$1.64
Consensus $2
EPS surprise
+5.8%
Reported versus consensus
Reported revenue
$1.67B
Consensus $1.67B
Revenue surprise
+0.0%
Reported versus consensus
Earnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$96.1Current
$83Low
$123.69Average
$185High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Jul 31, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Jefferies | Hold | Buy | Downgrade | Jul 28, 2026 |
| Evercore ISI Group | Underperform | Underperform | Maintain | Jul 23, 2026 |
| Barclays | Underweight | Underweight | Maintain | Jul 21, 2026 |
| BNP Paribas | Neutral | Neutral | Maintain | Jul 20, 2026 |
| UBS | Neutral | Neutral | Maintain | Jul 16, 2026 |
| JP Morgan | Underweight | Underweight | Maintain | Jul 16, 2026 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | May 18, 2026 |
| Citigroup | Neutral | Neutral | Maintain | May 1, 2026 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Apr 23, 2026 |
| Deutsche Bank | Hold | Hold | Maintain | Mar 30, 2026 |
| TD Cowen | Hold | Hold | Maintain | Jan 8, 2026 |
| Goldman Sachs | Sell | Sell | Maintain | Jan 7, 2026 |
| B of A Securities | Neutral | Neutral | Maintain | Oct 8, 2025 |
| DA Davidson | Neutral | Neutral | Maintain | Feb 5, 2025 |
| RBC Capital | Sector Perform | Sector Perform | Maintain | Jan 30, 2025 |
| Bernstein | Market Perform | Underperform | Upgrade | Oct 12, 2023 |
| Raymond James | Market Perform | Outperform | Downgrade | Oct 5, 2023 |
| Atlantic Equities | Neutral | Underweight | Upgrade | Aug 3, 2023 |
| Credit Suisse | Underperform | Underperform | Maintain | Nov 2, 2022 |
| Argus Research | Hold | Buy | Downgrade | Sep 3, 2021 |
| CFRA | Hold | Sell | Upgrade | Mar 4, 2020 |
| Bank of America | Neutral | Neutral | Maintain | Oct 3, 2019 |
| BMO Capital | Outperform | Outperform | Maintain | Nov 2, 2018 |
| Argus | Buy | Hold | Upgrade | Sep 25, 2018 |
| B. Riley FBR | Sell | Neutral | Downgrade | May 5, 2018 |
| Sterne Agee CRT | Neutral | Buy | Downgrade | Feb 26, 2016 |
| Sterne Agee | Neutral | Buy | Downgrade | Feb 26, 2016 |
| B. Riley Securities | Neutral | Neutral | Maintain | Feb 9, 2016 |
| Wellington Shields | Buy | Hold | Upgrade | Mar 18, 2013 |
Named analyst price targets
Upside is calculated against the persisted current price $96.1. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Jefferies | Kaumil Gajrawala | $98 | $97.41 | +2.0% | Jul 28, 2026 |
| Evercore ISI | Javier Escalante | $98 | $93.62 | +2.0% | Jul 23, 2026 |
| Deutsche Bank | Analyst unavailable | $94 | $96.25 | -2.2% | Jul 22, 2026 |
| Morgan Stanley | Analyst unavailable | $97 | $88.25 | +0.9% | May 1, 2026 |
| Goldman Sachs | Bonnie Herzog | $83 | $87.73 | -13.6% | May 1, 2026 |
| Evercore ISI | Javier Escalante | $110 | $88.3 | +14.5% | May 1, 2026 |
| Deutsche Bank | Steve Powers | $91 | $96.44 | -5.3% | May 1, 2026 |
| UBS | Analyst unavailable | $96 | $96.44 | -0.1% | May 1, 2026 |
| Barclays | Analyst unavailable | $85 | $96.44 | -11.6% | May 1, 2026 |
| Jefferies | Kaumil Gajrawala | $139 | $100.34 | +44.6% | Apr 21, 2026 |
| RBC Capital | Analyst unavailable | $127 | $107.62 | +32.2% | Apr 9, 2026 |
| Wells Fargo | Analyst unavailable | $110 | $105.67 | +14.5% | Apr 8, 2026 |
| Wells Fargo | Chris Carey | $125 | $125.94 | +30.1% | Feb 17, 2026 |
| Redburn Partners | Analyst unavailable | $117 | $124.64 | +21.7% | Feb 13, 2026 |
| UBS | Peter Grom | $121 | $117.35 | +25.9% | Feb 4, 2026 |
| RBC Capital | Analyst unavailable | $132 | $116.62 | +37.4% | Feb 4, 2026 |
| Deutsche Bank | Analyst unavailable | $114 | $115.22 | +18.6% | Jan 23, 2026 |
| Wells Fargo | Analyst unavailable | $115 | $112.2 | +19.7% | Jan 23, 2026 |
| Barclays | Analyst unavailable | $109 | $109.26 | +13.4% | Jan 16, 2026 |
| UBS | Peter Grom | $115 | $110.64 | +19.7% | Jan 14, 2026 |
| Goldman Sachs | Analyst unavailable | $94 | $100.61 | -2.2% | Jan 7, 2026 |
| Wells Fargo | Analyst unavailable | $108 | $99.67 | +12.4% | Jan 5, 2026 |
| Morgan Stanley | Dara Mohsenian | $125 | $109.42 | +30.1% | Nov 4, 2025 |
| UBS | Peter Grom | $119 | $109.14 | +23.8% | Nov 4, 2025 |
| Wells Fargo | Analyst unavailable | $117 | $109.14 | +21.7% | Nov 4, 2025 |
| Jefferies | Kaumil Gajrawala | $152 | $109.14 | +58.2% | Nov 4, 2025 |
| UBS | Analyst unavailable | $128 | $118.82 | +33.2% | Oct 8, 2025 |
| Barclays | Analyst unavailable | $112 | $122.67 | +16.5% | Oct 1, 2025 |
| Barclays | Lauren Lieberman | $119 | $126.78 | +23.8% | Jul 15, 2025 |
| Barclays | Lauren Lieberman | $129 | $135.05 | +34.2% | May 7, 2025 |
| Evercore ISI | Javier Escalante | $140 | $135.05 | +45.7% | May 6, 2025 |
| Morgan Stanley | Dara Mohsenian | $150 | $135.05 | +56.1% | May 6, 2025 |
| Wells Fargo | Chris Carey | $142 | $133.64 | +47.8% | May 6, 2025 |
| Barclays | Lauren Lieberman | $139 | $145.63 | +44.6% | Mar 27, 2025 |
| Goldman Sachs | Bonnie Herzog | $132 | $159.56 | +37.4% | Oct 8, 2024 |
| Jefferies | Kaumil Gajrawala | $187 | $165.83 | +94.6% | Oct 1, 2024 |
| Barclays | Lauren Lieberman | $122 | $136.31 | +27.0% | Jul 19, 2024 |
| Wells Fargo | Chris Carey | $135 | $139.63 | +40.5% | May 2, 2024 |
| Jefferies | Kaumil Gajrawala | $145 | $150.52 | +50.9% | Mar 26, 2024 |
| RBC Capital | Nik Modi | $138 | $145.97 | +43.6% | Jan 30, 2024 |
| Raymond James | Olivia Tong | $185 | $124.69 | +92.5% | Oct 5, 2023 |
| J.P. Morgan | Ken Goldman | $153 | $155.1 | +59.2% | Sep 8, 2023 |
| Morgan Stanley | Analyst unavailable | $145 | $141 | +50.9% | Feb 3, 2023 |
| Raymond James | Analyst unavailable | $165 | $141 | +71.7% | Feb 3, 2023 |
| Jefferies | Analyst unavailable | $145 | $143.32 | +50.9% | Feb 1, 2023 |
| Wells Fargo | Analyst unavailable | $135 | $140.39 | +40.5% | Jan 3, 2023 |
| Deutsche Bank | Analyst unavailable | $151 | $146.7 | +57.1% | Dec 6, 2022 |
| Barclays | Analyst unavailable | $101 | $148.71 | +5.1% | Aug 19, 2022 |
| Raymond James | Olivia Tong | $160 | $143.89 | +66.5% | Jul 12, 2022 |
| D.A. Davidson | Analyst unavailable | $123 | $147.56 | +28.0% | May 3, 2022 |
| Morgan Stanley | Analyst unavailable | $137 | $143.28 | +42.6% | May 3, 2022 |
| Wells Fargo | Analyst unavailable | $130 | $143.28 | +35.3% | May 3, 2022 |
| Barclays | Lauren Lieberman | $117 | $148.34 | +21.7% | Apr 29, 2022 |
| Deutsche Bank | Steve Powers | $146 | $150.65 | +51.9% | Apr 24, 2022 |
| D.A. Davidson | Linda Bolton Weiser | $127 | $143.22 | +32.2% | Feb 8, 2022 |
| UBS | Peter Grom | $148 | $141.41 | +54.0% | Feb 4, 2022 |
| Bernstein | Callum Elliott | $155 | $166.99 | +61.3% | Feb 2, 2022 |
| Credit Suisse | Kaumil Gajrawala | $160 | $164.72 | +66.5% | Jan 26, 2022 |
| Jefferies | Kevin Grundy | $185 | $176.27 | +92.5% | Jan 5, 2022 |
Track every rating change on CLX the moment it posts. Free to start.
Start freeMarket reaction
event-close to next-session close
Stock move
-9.7%
Event window
SPY move
+0.3%
Same window
Abnormal move
-10.0%
Stock minus SPY
Volume
5.3×
Versus trailing sessions
Subsequent drift
+2.3%
Up to 20 sessions
CLXSPY benchmark
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Try FN2 freeTranscript intelligence
What changed
ERP implementation completion and its quantified impact on logistics and margin emerged as a new factor this quarter, pressuring gross margins despite the headline EPS beat. The GOJO Industries acquisition closed April 1, adding approximately $200 million in Q4 revenue uplift (~10% of the quarter) but also introducing near-term margin dilution and higher interest expense. Fresh Step litter reinvention — involving new naming, claims, pack sizes, and a digital-first rollout — was disclosed as progressing slower than expected, with early digital pickup but still in the conversion phase. The stock's ~10% abnormal decline reflected the market's focus on margin compression rather than the EPS beat.
Guidance delta
Management maintained guidance. The transcript analysis characterizes guidance sentiment as 'maintained,' with no raise or cut. Management expressed confidence in delivering stronger execution into Q4 and FY27, citing cost-savings acceleration and value-superiority initiatives, but did not formally raise the outlook.
Key takeaways
- Q3 fell short of expectations despite an EPS beat, due to ERP-related disruption and higher input costs pressuring gross margins.
- Cleaning business and innovation (PURE, Scentiva) remain core growth engines; Glad is regaining share.
- Fresh Step litter transformation is slower than anticipated and will be a multiyear effort.
- GOJO acquisition adds ~10% quarterly revenue and is expected to be accretive after initial margin dilution of ~50 basis points.
- Management is confident and focused on execution, cost-savings acceleration, and value-superiority initiatives for FY27.
Management priorities
- Leverage completed ERP to improve efficiency and analytics.
- Accelerate Fresh Step litter reinvention rollout and shelf-placement optimization.
- Expand RGM testing and price-pack architecture across brands.
- Integrate GOJO business, targeting revenue and cost synergies starting FY27.
- Invest in advertising and digital media efficiency while maintaining A&P discipline.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-07-31T15:51:07.222780+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-07-31T15:51:07.219865+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated . For educational purposes only; not investment advice.