Clorox's (CLX) fiscal Q1 results are likely to be in line with analyst expectations, with potential for upside, while its H2 is expected to be stronger than H1, RBC Capital Markets said Monday.

The maker of household cleaning products is expected to report fiscal Q1 results Wednesday. RBC projects adjusted earnings at $1.36 per share on sales of about $1.64 billion. Wall Street is looking for $1.37 and $1.64 billion, respectively, according to RBC.

"Despite broad-based commentary regarding retailer inventory destocking, organic growth for CLX will be outsized this quarter compared to consumption due to easy comps," RBC analyst Nik Modi said in a note to clients.

"Scanner data indicates strong performance in cat litter, a pain point for CLX over the past few quarters," Modi said. "That said, much of this is driven by increased promotions."

RBC has a sector perform rating on the Clorox stock, with a $143 price target.

Price: 157.57, Change: +0.88, Percent Change: +0.56