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MarketPulse: Clorox Shines and Consumer Staples Climb

Investing.com - Clorox and Sysco surged on Monday, pushing consumer staples higher as both companies delivered above-consensus earnings.

Clorox (NYSE:CLX), maker of popular household cleaning products, reported fiscal second-quarter earnings of $1.40 a share, topping consensus of $1.30. Revenue was in line at $1.47 billion. Its share rose 7%.

Cost-savings plans and "sound execution on pricing" were identified as key drivers of performance, helping the company address near-term headwinds and remain on track to meet full-year sales and earnings expectations.

The company guided 2019 earnings in a range of $6.20 to $6.40, in line with Street estimates of $6.32. Full-year revenue expectations of between $6.24 billion and $6.36 billion were also in line with estimates of $6.33 billion.

Food delivery company Sysco (NYSE:SYY) topped expectations the bottom line, sending its shares 4.5% higher.

The food delivery company reported earnings of $0.75, above consensus for earnings of $0.73 a share. Revenue of $14.8 billion was about in line with forecasts.

The company's upbeat results arrived as it ramped up efforts to cut costs, including laying off workers in December last year to stave off the impact from rising transportation and food costs.

The S&P 500 Consumer Staples sector, which includes makers of household needs like food, beverages and personal care products, rose 0.60%.

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