Revenue during the quarter grew 4.54 percent to $1,406 million from $1,345 million in the previous year period. Gross margin for the quarter expanded 13 basis points over the previous year period to 44.74 percent. Total expenses were 80.65 percent of quarterly revenues, down from 81.49 percent for the same period last year. This has led to an improvement of 83 basis points in operating margin to 19.35 percent.

Operating income for the quarter was $272 million, compared with $249 million in the previous year period.

"I'm very pleased with the results we're reporting today, the highlight being we delivered our second consecutive quarter of 8 percent volume growth. This is the highest volume increase we've seen in nearly 10 years, with gains in each of our segments in the U.S. and International," said chairman and chief executive officer Benno Dorer. "Excluding the noncash charge, we delivered strong earnings per share growth on top of 18 percent growth in the year-ago period. Notably, we continue to drive cost savings and productivity improvements, including in International, which delivered significant margin improvement."

For fiscal year 2017, Clorox Company forecasts revenue to grow in the range of 3 percent to 4 percent. The company expects diluted earnings per share to be in the range of $5.23 to $5.38.