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FindTheCompany | Graphiq Including this charge, the company reported earnings per share of $1.14, flat with the prior-year quarter. Net sales of $1,406 million advanced nearly 4.5% year over year, marginally surpassing the Zacks Consensus Estimate of $1,405 million. Notably, this marked the companys fourth consecutive sales beat. During the quarter, gains from 8% volume growth, higher pricing at the International business and benefits from RenewLife (acquired in May 2016) were somewhat negated by unfavorable mix and slightly less than 2 points impact from unfavorable currency effects. On a currency-neutral basis, revenues increased 6% in the reported quarter. Cloroxs gross margin expanded 10 basis points (bps) to 44.7% in the quarter, driven by gains from efficient cost savings and improved international pricing partly negated by increase in manufacturing and logistics expenses. Revenue by Segment Sales in the Cleaning segment improved 3% to $469 million, with a 10% rise in volumes. Volumes mainly gained from the strength in Home Care, particularly Clorox disinfecting wipes, along with strong volumes at the Professional Products cleaning brands. Household sales grew 12% to $421 million, with volumes rising 11%.
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The review was requested in December by former President Barack Obama. Opponents argue that letting the pipeline cross under Lake Oahe, a reservoir that is the water source for the Standing Rock Sioux Reservation, would damage sacred lands and could leak oil into the tribe's water supply. Proponents believe the pipeline is necessary to transport U.S. oil safely and that it would create jobs. Jan Hasselman, an attorney with Earthjustice, who represents the Standing Rock Sioux, said the tribe will challenge the U.S. government in court if the Army grants the easement. The tribe, along with other Native American groups, environmentalists and other activists, have opposed the $3.8 billion Dakota Access Pipeline led by Energy Transfer Partners LP (ETP.N). He said it is unclear whether construction could begin while the decision is challenged or whether the court will grant an injunction blocking the work. Our position is the tribe's treaty rights and the law require the full (Environmental Impact Study) process that the government initiated in December. Issuing the easement without that process will be a serious violation of the law, Hasselman told Reuters. A spokesman for the Army was not immediately available to comment.