Clorox EcoClean Disinfecting Wipes expands the Clorox EcoClean product portfolio of Design for the Environment (DfE) and Safer Choice-certified, ready-to-use cleaners and disinfectants, to provide cleaning professionals more eco-conscious alternatives that work as well as traditional cleaners. OAKLAND, Calif., Aug. 6, 2024 /PRNewswire/ -- CloroxPro, the trusted makers of Clorox professional products, is proud to announce the expansion of the Clorox EcoClean product platform with the launch of Clorox EcoClea ...

It is safe to say that 2024 has been a disappointing year for those who invested in consumer staple stocks. The widely feared and talked about recession has not arrived, and so far the Fed has not made any rate cuts this year despite high anticipation. Although the interest rate cut is most likely going to occur during the September meeting, there is still a good chance that the Fed will not take the cut aggressively, and the cut journey will occur gradually. This would mean that it will take a couple of ye ...

Key Takeaways Clorox shares moved higher Friday after the consumer and professional product supplier beat quarterly profit estimates and issued an upbeat forward-year outlook. A streamlined business model helped Clorox expand its gross margin, underpinning earnings growth. The company said it would sell its Better Health Vitamins business, and touted its progress on recovering from a 2023 cyberattack. Clorox (CLX) shares jumped Friday to become the top performer in the S&P 500 after the company known for it ...

The company is earning good profits, but is the stock jumping too high? Shares of consumer conglomerate The Clorox Company (CLX 3.80%) rose on Friday even though the S&P 500 dropped like a rock. The company reported results for its fiscal fourth quarter of 2024 that encouraged investors. As of 10:40 a.m. ET today, Clorox stock was up 5%, whereas the S&P 500 was down a sharp 2.5%. So Clorox's quarter was good, right? In the case of Clorox, I wouldn't call its latest quarter an overwhelming success even thoug ...

Shares of The Clorox Company (CLX) climbed 4.2% in the after-market trading session on Aug 1 following its fourth-quarter fiscal 2024 results. Despite a decline and miss in net sales, the company's earnings were strong, surpassing the Zacks Consensus Estimate and showing a year-over-year improvement. The positive earnings were driven by pricing actions and gross margin expansion due to cost-saving initiatives. Management's fiscal 2025 earnings projection, which exceeded analysts' expectations, also helped l ...

The Clorox Company (NYSE:CLX) Q4 2024 Earnings Conference Call August 1, 2024 5:00 PM ET Company Participants Lisah Burhan - VP, IR Linda Rendle - Chair and CEO Kevin Jacobsen - CFO Conference Call Participants Filippo Falorni - Citi Peter Grom - UBS Andrea Teixeira - JPMorgan Chris Carey - Wells Fargo Bonnie Herzog - Goldman Sachs Dara Mohsenian - Morgan Stanley Kaumil Gajrawala - Jefferies Kevin Grundy - BNP Paribas Robert Moskow - TD Cowen Olivia Tong - Raymond James Lauren Lieberman - Barclays Steve Pow ...

For the quarter ended June 2024, Clorox (CLX) reported revenue of $1.9 billion, down 5.8% over the same period last year. EPS came in at $1.82, compared to $1.67 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $1.97 billion, representing a surprise of -3.40%. The company delivered an EPS surprise of +18.18%, with the consensus EPS estimate being $1.54. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expect ...

Clorox (CLX) came out with quarterly earnings of $1.82 per share, beating the Zacks Consensus Estimate of $1.54 per share. This compares to earnings of $1.67 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 18.18%. A quarter ago, it was expected that this consumer products maker would post earnings of $1.33 per share when it actually produced earnings of $1.71, delivering a surprise of 28.57%. Over the last four quarters, the c ...

PRESS RELEASE Clorox Reports Q4 and FY24 Results, Provides FY25 Outlook Company Announces Sale of its Better Health Vitamins, Minerals and Supplements Business OAKLAND, California, Aug. 1, 2024 — The Clorox Company (NYSE: CLX) today reported results for the fourth quarter and fiscal year 2024, which ended June 30, 2024. Alongside these results, the company also announced it has entered into a definitive agreement to divest its Better Health Vitamins, Minerals and Supplements (VMS) business in its entirety t ...

Core Insights - The Clorox Company announced the divestiture of its Better Health Vitamins, Minerals and Supplements (VMS) business to Piping Rock Health Products, LLC, as part of its IGNITE strategy to evolve its portfolio for consistent, profitable growth [1][12][13]. Fourth-Quarter Fiscal Year 2024 Summary - Net sales decreased by 6% to $1.9 billion compared to the same quarter last year, primarily due to the Argentina divestiture, unfavorable price mix, and lower volume [3][11]. - Gross margin increased by 380 basis points to 46.5%, attributed to lower manufacturing and logistics costs, cost savings initiatives, and favorable commodity costs [3]. - Diluted EPS rose by 22% to $1.73, including insurance recoveries related to a cyberattack, while adjusted EPS increased by 9% to $1.82 [3][11]. Strategic and Operational Highlights - The company successfully restored distribution losses and regained market share lost due to a cyberattack, while continuing to invest in brand value through advertising and innovations [5]. - Clorox achieved its seventh consecutive quarter of gross margin expansion and completed the implementation of a streamlined operating model, expected to yield annual cost savings of approximately $100 million [5][33]. - The company received multiple recognitions for its workplace and environmental initiatives, including being named a Best Company to Work For by U.S. News & World Report [5]. Key Segment Results - Health and Wellness segment net sales were flat, with cleaning sales increasing due to restored distribution and new innovations [6]. - Household segment net sales decreased by 10%, driven by lower volume and unfavorable price mix, while adjusted EBIT decreased by 31% [7]. - Lifestyle segment net sales decreased by 2%, with food sales increasing due to strong consumption, but water filtration and natural personal care sales declined [8]. - International segment net sales decreased by 11%, primarily due to the Argentina divestiture, but organic sales increased by 5% when excluding Argentina [9]. Fiscal Year 2024 Summary - For the fiscal year, net sales decreased by 4%, with gross margin increasing by 360 basis points to 43.0% [11]. - Diluted EPS increased by 88% to $2.25, while adjusted EPS rose by 21% to $6.17, driven by pricing and gross margin expansion [11]. Expected Divestiture of Better Health VMS Business - The Better Health VMS business represented approximately 3% of the company's fiscal year 2024 net sales, and the divestiture is expected to incur a one-time after-tax charge of $114 million to $134 million [12][13][23]. - The transaction is anticipated to close in the first quarter of fiscal year 2025, subject to regulatory approvals [12][13]. Fiscal Year 2025 Outlook - Net sales are expected to be flat to down 2%, with organic sales projected to increase by 3% to 5% [15]. - Gross margin is anticipated to improve by about 100 basis points, while diluted EPS is expected to range between $4.95 and $5.20, reflecting a significant increase [15][42].