Transaction Details - The Clorox Company has completed the divestiture of its Better Health Vitamins, Minerals, and Supplements (VMS) business to an affiliate of Piping Rock Health Products, LLC [1] - The divested business includes brands such as Natural Vitality, NeoCell, Rainbow Light, and RenewLife, along with relevant trademarks, licenses, and manufacturing and distribution facilities in Sunrise, Florida [1] Strategic Rationale - The transaction aligns with Clorox's strategy to evolve its portfolio, reduce volatility, accelerate sales growth, and structurally improve margins to drive consistent and profitable growth over time [2] Company Overview - The Clorox Company is a leading consumer goods company with trusted brands found in about nine of 10 U S homes, including Brita, Burt's Bees, Clorox, Fresh Step, Glad, Hidden Valley, Kingsford, Liquid-Plumr, and Pine-Sol [3] - The company also operates internationally with brands such as Clorinda, Chux, and Poett [3] - Clorox has been headquartered in Oakland, California, since 1913 and was one of the first U S companies to integrate ESG into its business reporting [3] - In 2024, Clorox was ranked No 1 on Barron's 100 Most Sustainable Companies list for the second consecutive year [3]

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The Clorox Company (NYSE:CLX) Barclays 17th Annual Global Consumer Staples Conference September 4, 2024 3:00 PM ET Company Participants Linda Rendle - Chair and Chief Executive Officer Kevin Jacobsen - Chief Financial Officer Conference Call Participants Lauren Lieberman - Barclays Bank PLC Lauren Lieberman Let us get started. So I'm really happy to be welcoming The Clorox Company. We've got Linda Rendle, the company's Chair and CEO; and Kevin Jacobsen, CFO, with us. So thank you guys for being here. And I ...

The Clorox Company (NYSE:CLX) Barclays 17th Annual Global Consumer Staples Conference September 4, 2024 3:00 PM ET Company Participants Linda Rendle - Chair and Chief Executive Officer Kevin Jacobsen - Chief Financial Officer Conference Call Participants Lauren Lieberman - Barclays Bank PLC Lauren Lieberman Let us get started. So I'm really happy to be welcoming The Clorox Company. We've got Linda Rendle, the company's Chair and CEO; and Kevin Jacobsen, CFO, with us. So thank you guys for being here. And I ...

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OAKLAND, Calif., Aug. 14, 2024 /PRNewswire/ -- The Clorox Company (NYSE: CLX) today announced that Chair and Chief Executive Officer Linda Rendle and Chief Financial Officer Kevin Jacobsen will participate in a fireside chat at the Barclays Global Consumer Staples Conference on Wednesday, September 4, 2024, in Boston. The webcast will begin at approximately 3:00 p.m. ET (12:00 p.m. PT) and can be accessed on the company's website. A replay of the webcast will be available following the event. About The Clor ...

Financial Performance - The Clorox Company reported fiscal year 2024 net sales of $7.1 billion, with a significant focus on strong brand investments and digital capabilities[7]. - Despite a cyberattack and inflationary pressures, diluted net earnings per share (EPS) increased by 88% compared to the previous year, largely due to a noncash impairment charge from the Better Health VMS business in the prior period[8]. - Clorox paid $595 million in dividends to shareholders during fiscal year 2024, marking the 22nd consecutive year of dividend increases[14]. - Clorox's gross margin improved to 45%, up from 42% in the previous year, due to cost-saving initiatives and operational efficiencies[176]. - The Clorox Company reported a significant increase in revenue, achieving $1.8 billion for the quarter, representing a 5% year-over-year growth[176]. Product Development and Innovation - The Company launched several new products in fiscal year 2024, including seven new Hidden Valley Ranch flavors and a new lineup of Pine-Sol concentrated cleaners[9]. - The company is investing $50 million in new product development, focusing on sustainable and eco-friendly cleaning solutions[178]. - Clorox has introduced a new line of disinfecting wipes, which has already captured a 5% market share within the first month of launch[178]. - Clorox has launched a new line of eco-friendly products, which is projected to contribute $100 million in revenue over the next three years[182]. Market Strategy and Customer Base - The Company’s largest customer, Walmart, accounted for 25% of consolidated net sales in fiscal year 2024[24]. - The Company's five largest customers represented nearly 50% of consolidated net sales for each of the fiscal years 2024, 2023, and 2022[62]. - In fiscal year 2024, 84% of Clorox's net sales were attributable to U.S. markets, highlighting the company's reliance on mature markets[54]. - Clorox plans to expand its market presence in Asia, targeting a 15% increase in market share over the next three years[178]. Operational Efficiency and Cost Management - The implementation of a streamlined operating model is projected to achieve annual cost savings of approximately $100 million[11]. - The total incremental investment for transformative technologies and processes is expected to be between $560 million and $580 million, up from a previous estimate of $500 million[10]. - The company is implementing a new technology platform aimed at streamlining supply chain operations, expected to reduce costs by 8%[178]. - Clorox's products generated 43% of consolidated net sales from cleaning products in fiscal year 2024, up from 42% in the previous two years[17]. Cybersecurity and Operational Disruptions - The Company has experienced disruptions due to unauthorized activity on its IT systems starting August 11, 2023, leading to significant operational impacts and delays in order processing[77][78]. - The August 2023 cyberattack resulted in significant disruptions, including order processing delays and product outages, negatively impacting net sales and earnings[131]. - The costs incurred from the cyberattack included third-party consulting services and other professional services, partially offset by recognized insurance recoveries in fiscal year 2024[131]. - The Company has seen an increase in cyber threats, which may lead to additional regulatory scrutiny and litigation exposure[81]. Diversity and Workforce Engagement - As of June 30, 2024, people of color represented 42% of Clorox's total U.S. workforce, with women making up 36% of the global workforce[33]. - In fiscal year 2024, just over 82% of employees reported feeling engaged at Clorox, consistent with fiscal year 2023 results and above the 50th percentile for Fortune 500 benchmarks[37]. - Clorox's Executive Committee is composed of 54% women and 15% people of color, reflecting its commitment to diversity in leadership[33]. - The executive team includes a Chief Diversity and Social Impact Officer, reflecting the Company's commitment to diversity and inclusion initiatives[150]. Environmental and Social Responsibility - Clorox has committed to net-zero greenhouse gas emissions by 2050 and has set science-based targets to reduce scopes 1 and 2 greenhouse gas emissions by 2030 from a 2020 baseline[44]. - The Company is committed to reducing its carbon footprint by 25% by 2025, aligning with its sustainability goals[182]. - The Clorox Company Foundation focuses on community wellness, disease prevention, and disaster relief, supporting its purpose of championing well-being[40]. - The Company faces increasing scrutiny regarding its ESG policies, which could impact profitability and access to capital[103]. Challenges and Risks - The Company faces intense competition from both U.S. and international consumer product companies, which could lead to reduced net sales and earnings[57]. - Increased purchases of "private label" products could negatively impact the Company's higher-margin products, especially during ongoing inflationary pressures[57]. - The Company may face challenges in successfully integrating acquired companies and achieving expected synergies from acquisitions[69]. - The Company’s reliance on e-commerce and alternative retail channels may create significant pricing pressures for consumer goods[56]. Financial Obligations and Debt - The Company had approximately $2.5 billion of debt as of June 30, 2024, which could limit its operational flexibility and ability to fund future initiatives[124]. - The Company may incur substantial additional indebtedness in the future to fund acquisitions or stock repurchases, which could further impact its financial condition[125]. - The Company authorized a share repurchase program of up to $2,000 million in May 2018, with no expiration date[156]. - As of June 30, 2024, the maximum number of shares that may yet be purchased under the repurchase plans is $993 million[157].

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both. Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor. It also includes access to the Zacks Style Scores. What are ...