The Clorox Company (NYSE:CLX) Q4 2023 Earnings Call Transcript August 2, 2023 5:00 PM ET Company Participants Lisah Burhan - VP of IR Linda Rendle - CEO Kevin Jacobsen - CFO Conference Call Participants Peter Grom - UBS Anna Lizzul - Bank of America Dara Mohsenian - Morgan Stanley Filippo Falorni - Citi Andrea Teixeira - JP Morgan Chris Carey - Wells Fargo Javier Escalante - Evercore ISI Olivia Tong - Raymond James Lauren Lieberman - Barclays Steven Powers - Deutsche Bank Jason English - Goldman Sachs Opera ...

Clorox Company Conference Call Summary Company Overview - **Company**: The Clorox Company (NYSE: CLX) - **Date**: June 6, 2023 - **Participants**: - Linda Rendle - Chief Executive Officer - Kevin Jacobsen - Chief Financial Officer - Steve Powers - Deutsche Bank Analyst Key Industry Insights - **Industry**: Consumer Packaged Goods - **Market Position**: Clorox has a leading portfolio of trusted brands including Clorox, Glad, Fresh Step, Hidden Valley, and Burt's Bees [1][2] Core Points and Arguments 1. **Current Trends and Financial Guidance**: - Clorox has experienced strong recent results and has raised guidance intra-year, indicating positive operational progress [3][4] - The company aims to rebuild profitability affected by significant inflation, targeting a return to pre-pandemic margin levels while maintaining top-line growth [4][9] 2. **IGNITE Strategy**: - The IGNITE strategy focuses on accelerating growth, removing waste, driving cost savings, and enhancing innovation [5][6] - Clorox has seen a significant improvement in brand strength, with approximately 70% of its portfolio rated superior by consumers, up from mid-50s pre-pandemic [7] 3. **Digital Transformation**: - A $500 million investment in digital transformation is underway, aimed at enhancing operational efficiency and consumer engagement [8][34] - The transformation is expected to fundamentally change how Clorox operates, improving data management and decision-making processes [34][35] 4. **Financial Performance and Goals**: - Clorox targets 3% to 4% organic sales growth for the current fiscal year, with expectations to rebuild gross margins by 250 to 300 basis points [9][10] - The company aims for adjusted earnings per share growth of 6% to 10% and plans to improve free cash flow to high single digits or low double digits [10][54] 5. **Pricing Strategy**: - Clorox has implemented four rounds of pricing increases and is focused on maintaining these prices while monitoring consumer behavior [16][17] - The company has historically only rolled back one price increase in 20 years, indicating strong pricing power [17][18] 6. **Supply Chain Improvements**: - Significant progress has been made in supply chain reliability, with improved fill rates and reduced inventory levels [45] - Clorox is optimizing supplier relationships to further reduce costs [45] 7. **International Growth**: - Clorox aims to accelerate international performance, leveraging innovations like wipes and expanding its cat litter and Burt's Bees product lines [43] 8. **Cash Flow and Capital Allocation**: - The company is focused on returning to a free cash flow target of 11% to 13% of sales, with plans to support dividends and manage debt levels effectively [54][56] - M&A opportunities will be considered after stabilizing cash flow and profitability [56][57] Additional Important Insights - **Consumer Behavior**: Clorox is monitoring potential recession impacts on consumer spending and is prepared to adjust strategies accordingly [14] - **Innovation Focus**: The company is committed to driving innovation and advertising efficiency to attract and retain consumers [47][48] - **Long-term Vision**: Clorox aims to maintain a competitive edge through continuous investment in technology and operational improvements [50][51] This summary encapsulates the key points discussed during the Clorox Company conference call, highlighting the company's strategic direction, financial goals, and market positioning.

The Clorox Company (NYSE:CLX) Q3 2023 Earnings Conference Call May 2, 2023 5:00 PM ET Company Participants Lisah Burhan - VP, IR Linda Rendle - CEO Kevin Jacobsen - CFO Conference Call Participants Andrea Teixeira - JPMorgan Peter Grom - UBS Anna Lizzul - Bank of America Dara Mohsenian - Morgan Stanley Filippo Falorni - Citi Lauren Lieberman - Barclays Olivia Tong - Raymond James Christopher Carey - Wells Fargo Javier Escalante - Evercore ISI Stephen Powers - Deutsche Bank Jason English - Goldman Sachs Kevi ...

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Clorox Company CAGNY 2023 Conference Call Summary Company Overview - **Company**: The Clorox Company (NYSE: CLX) - **Participants**: - Linda Rendle - CEO - Kevin Jacobsen - CFO - **Conference Date**: February 23, 2023 Key Industry Insights - Clorox is navigating a challenging macroeconomic environment while focusing on rebuilding margins and maintaining top-line growth despite inflationary pressures [2][5][50]. - The company emphasizes its commitment to innovation and consumer intimacy as key drivers for long-term growth [2][4]. Core Strategies and Performance - **IGNITE Strategy**: Launched in 2019, focuses on leveraging innovation across four integrated choices: fuel growth, innovate experiences, reimagine work, and evolve the portfolio [10][11][22]. - **Brand Strength**: Over 80% of Clorox's portfolio consists of 1 or 2 share brands in their categories, with a consumer superiority rating of 76%, the highest recorded [8][12]. - **Financial Goals**: Aiming for top-line growth of 3% to 5% and annual EBIT margin expansion of 25 to 50 basis points [56]. Financial Performance - Clorox has returned approximately $4.7 billion to shareholders over the last five years through share buybacks and dividends [51]. - The company has seen a 3-year CAGR of 17% in its e-commerce business, indicating strong growth potential in online sales [44]. - Recent quarters have shown gross margin expansion after a period of decline, with a projection for continued improvement [60]. Innovation and Product Development - Clorox is focusing on "big, sticky innovations" that provide long-term value and consumer engagement [16][25]. - Recent product launches include: - **Clorox Disinfecting Mist**: A non-aerosol disinfecting spray that emphasizes sustainability through a refill model [28]. - **Outstretch Cat Litter**: Initially struggled but has seen a turnaround with improved communication and marketing strategies, achieving nearly $50 million in sales [34]. - **Glad with Clorox**: A successful product that generated $120 million in its first year, addressing consumer needs for odor control [39]. Supply Chain and Operational Improvements - Clorox has made significant investments in its supply chain to enhance resilience and efficiency, particularly in response to pandemic-related disruptions [59]. - The company is implementing a $500 million digital transformation to improve operational capabilities and data analytics [53][20]. ESG Commitment - Clorox has integrated ESG considerations into its business strategy, aiming to maximize impact through holistic management [7][18]. Conclusion - Clorox is positioned to leverage its strong brand portfolio and innovative capabilities to drive profitable growth while navigating current economic challenges. The focus remains on balancing short-term results with long-term strategic investments [18][61].

The Clorox Company (NYSE:CLX) Q2 2023 Earnings Conference Call February 2, 2023 5:00 PM ET Company Participants Lisah Burhan - Vice President, Investor Relations Linda Rendle - Chief Executive Officer Kevin Jacobsen - Chief Financial Officer Conference Call Participants Peter Grom - UBS Dara Mohsenian - Morgan Stanley Andrea Teixeira - JPMorgan Kaumil Gajrawala - Credit Suisse Christopher Carey - Wells Fargo Jason English - Goldman Sachs Kevin Grundy - Jefferies Lauren Lieberman - Barclays Olivia Ton ...

For the quarterly period ended December 31, 2022. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 1221 Broadway, Oakland, California, 94612-1888 (Address of principal executive offices) (Zip code) (510) 271-7000 (Registrant's telephone number, including area code) (Former name, former address and former fiscal year, if changed since last report) ___________________ Securities registered pursuant to Section 12(b) of the Act: If an emerging growth company, indicat ...

The Clorox Company (NYSE:CLX) Q1 2023 Earnings Conference Call November 1, 2022 5:00 PM ET Company Participants Lisah Burhan - Vice President, Investor Relations Linda Rendle - Chief Executive Officer Kevin Jacobsen - Chief Financial Officer Conference Call Participants Peter Grom - UBS Andrea Teixeira - JPMorgan Dara Mohsenian - Morgan Stanley Chris Carey - Wells Fargo Javier Escalante - Evercore Anna Lizzul - Bank of America Jason English - Goldman Sachs Kaumil Gajrawala - Credit Suisse Lauren Lieberman - ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-07151 THE CLOROX COMPANY (Exact name of registrant as specified in its charter) Delaware 31-0595760 (State or other jurisdic ...

Clorox Company Conference Call Summary Company Overview - **Company**: The Clorox Company (NYSE: CLX) - **Event**: 2022 Barclays Global Consumer Staples Conference - **Date**: September 07, 2022 - **Participants**: - Linda Rendle - CEO - Kevin Jacobsen - CFO Key Points Industry Context and Operating Model - The company is operating in a challenging environment and is taking actions to grow margins and maintain top-line momentum [3] - A new streamlined operating model was announced, aiming for cost savings of $75 million to $100 million, with benefits expected to begin in the latter half of fiscal year 2023 and continue into fiscal year 2024 [3][12] Digital Transformation - A $500 million investment in digital transformation, including a new ERP system, is underway to modernize capabilities and support long-term growth [5][6] - The ERP system is over 20 years old and is being replaced to improve internal visibility and efficiency [6][8] Margin Recovery and Cost Management - The company aims to rebuild gross margins to pre-pandemic levels of approximately 44%, having lost about 800 basis points during the pandemic [17] - Expected margin improvement of about 200 basis points for the current year, despite facing 550 basis points of cost inflation [17] - The company is focused on pricing actions, cost savings, and optimizing the supply chain to support margin recovery [17][39] Retailer Relationships and Pricing Strategy - Discussions with retailers about pricing are becoming more nuanced due to consumer pressure and inflation [19][20] - The company expects to implement additional pricing plans in the back half of the year to cover inflation and improve margins [36][39] Inventory Management - Inventory levels are about 50% higher than pre-pandemic levels, but the company has started to reduce inventory, aiming for a return to more normalized levels [23][24] - The company has seen improvements in supply chain stability, allowing for better inventory management [24] Innovation and Brand Investment - Clorox has launched innovations in 28 categories in the last fiscal year, with a focus on maintaining advertising and innovation spending [6][14] - The company is committed to investing in its brands to ensure long-term growth and consumer relevance [14][27] International Growth - The company sees international markets as a growth opportunity, with plans to expand beyond Latin America into more stable markets [44] - Recent efforts have doubled the distribution in several countries, contributing positively to organic sales growth [44] Overall Performance and Future Outlook - The company has averaged 5% growth over the last three years, with strong performance in various segments despite challenges in the cleaning category [29][41] - Clorox is focused on balancing short-term tactical execution with long-term strategic goals to ensure sustainable growth [27][30] Additional Insights - The company acknowledges the need for continuous adaptation in response to market dynamics and consumer behavior changes post-pandemic [32] - Clorox is committed to maintaining a strong relationship with retailers while navigating the complexities of pricing and inventory management [19][20]