Financial Performance - For the three months ended December 31, 2024, net sales decreased by 15% to $1,686 million compared to $1,990 million in the prior year[91]. - Gross profit for the same period was $738 million, a decrease of 15%, while gross margin increased to 43.8% from 43.5% due to cost savings and divestitures[95]. - Selling and administrative expenses decreased by 13% to $280 million for the three months ended December 31, 2024, representing 16.6% of net sales[97]. - The diluted net earnings per share (EPS) increased by $0.79, or 105%, in the current three-month period, and by $1.42, or 154%, in the current six-month period, primarily due to the pension settlement charge in the prior period and higher net sales[105][106]. - Total net sales for the reportable segments decreased to $1.686 billion in the current three-month period, down 13% from $1.936 billion in the prior period[108]. - Segment adjusted EBIT for the total reportable segments was $258 million in the current three-month period, down from $386 million in the prior period[108]. - Adjusted EBIT for the three months ended December 31, 2024, was $258 million, compared to $386 million in the same period of 2023, reflecting a decrease of 33%[138]. Segment Performance - The Health and Wellness segment reported an organic sales growth of 8% for the three months ended December 31, 2024[93]. - The Health and Wellness segment reported net sales of $628 million, a decrease of 13%, while the Household segment saw a decline of 11% to $446 million in the current three-month period[109][111]. - The International segment's net sales decreased by 12% to $274 million, primarily due to the divestiture in Argentina[115][116]. - Organic sales growth for the total Company decreased by 9% for the three months ended December 31, 2024, with declines in all segments except for International, which grew by 6%[142]. Cost Management and Investments - Advertising costs increased by 3% to $191 million, with a rise in advertising spend as a percentage of net sales from 9.3% to 11.3%[98]. - The Company continues to invest in brand capabilities and product innovation to drive consistent, profitable growth over time[86]. - The Company incurred approximately $26 million and $55 million in operating expenses related to digital capabilities and productivity enhancements during the three and six months ended December 31, 2024, respectively[141]. - The Company expects approximately 70% of its incremental operating costs related to its digital capabilities investment to be recorded within selling and administrative expenses over the next five years[139]. - The Company aims to implement cost savings and efficiencies through a streamlined operating model and digital capabilities[33]. Cash Flow and Financing - Net cash provided by operations was $401 million in the current six-month period, compared to $173 million in the prior six-month period, driven by higher cash earnings and lower tax payments[121][122]. - Net cash provided by investing activities was $35 million in the current six-month period, compared to a net cash used of $56 million in the prior period, mainly due to proceeds from the sale of the Better Health VMS business[125]. - Net cash used by financing activities was $346 million in the current six-month period, an increase from $104 million in the prior period, primarily due to higher treasury stock purchases[126]. - As of December 31, 2024, the Company maintained a $1,200 million revolving credit agreement with no borrowings under the agreement[129]. - The Company repurchased 906 thousand shares of common stock at a cost of $150 million during the three months ended December 31, 2024, and 1,695 thousand shares at a cost of $257 million during the six months ended December 31, 2024[131]. - Dividends per share declared increased from $1.20 in Q4 2023 to $1.22 in Q4 2024, with total dividends paid rising from $149 million to $151 million[132]. Tax and Regulatory Environment - The effective tax rate on earnings for the three months ended December 31, 2024, was 18.1%, down from 29.3% in the prior year[101]. - The effective tax rate on earnings was 18.1% for the current three-month period, down from 29.3% in the prior period, primarily due to an international legal entity reorganization[104]. Strategic Initiatives and Challenges - The divestiture of the Argentina and Better Health VMS businesses is part of the Company's strategy to reduce volatility and improve margins[86]. - The Company anticipates continued volatility in the operating environment for the remainder of fiscal year 2025 due to macroeconomic conditions[85]. - The Company faces unfavorable economic and geopolitical conditions, including supply chain disruptions and rising inflation, impacting its operations[33]. - The Company is recovering from a cyberattack in August 2023, which poses risks related to information technology systems and potential security breaches[33]. - The Company is experiencing intense competition in its markets, which may affect its ability to drive sales growth and increase market share[33]. - The Company is dependent on key customers, and risks related to customer consolidation and ordering patterns could impact revenue[33]. - The Company is exposed to international trade risks, including foreign currency fluctuations and changes in governmental policies, which could affect its operations[33]. - The Company is facing challenges in attracting and retaining key personnel due to labor market conditions, including rising labor costs[33]. - The Company is subject to risks related to acquisitions and divestitures, including potential asset impairment charges and integration costs[33]. - The Company must manage environmental, social, and governance (ESG) issues, which could impact its reputation and operating costs[33].

Financial Performance - Net sales decreased 15% to $1.69 billion compared to a 16% increase in the year-ago quarter, with organic sales down 9%[4] - Adjusted diluted earnings per share (EPS) for the three months ended December 31, 2024, was $1.55, a decrease of 28% compared to the adjusted EPS of $2.16 for the same period in 2023[31] - The company reported net sales of $1,686 million for the three months ended Dec. 31, 2024, a 15% decrease from $1,990 million in the same period of 2023[36] - The gross profit for the three months ended Dec. 31, 2024, was $738 million, down from $866 million in the same period of 2023[36] - The adjusted EBIT for the three months ended Dec. 31, 2024, was $258 million, a 33% decrease compared to $386 million in the same period of 2023[35] - The Health and Wellness segment reported net sales of $628 million for the three months ended Dec. 31, 2024, a 13% decrease from $720 million in the same period of 2023[37] Future Outlook - The company expects net sales for fiscal year 2025 to be down 1% to up 2%, with organic sales projected to be up 4% to 7%[9] - Organic sales growth outlook for fiscal year 2025 excludes about 2 points of negative impact from the divestiture of the Argentina business and about 3 points from the Better Health VMS business[20] - The company expects to incur operating expenses of approximately $105-$115 million related to digital capabilities and productivity enhancements in fiscal year 2025[34] Operational Efficiency - Year-to-date net cash provided by operations was $401 million, representing a 132% increase compared to $173 million in the year-ago period[4] - Clorox achieved its ninth consecutive quarter of gross margin expansion, supported by strong cost savings[6] - Gross margin is expected to increase by 125 to 150 basis points, primarily due to holistic margin management efforts[9] Investments and Innovations - The company launched several new products, including the Hidden Valley Ranch Easy Squeeze bottle and a full suite of Brita Plus pitchers and dispensers[6] - Clorox was recognized with multiple innovation awards for its use of AI in product development and sustainability efforts[6] - The total incremental investment for digital capabilities and productivity enhancements is projected to be between $560 million and $580 million over five years, with approximately 70% of this amount expected to be recorded as operating costs[26][27] Tax and Legal Matters - The effective tax rate is now expected to be about 26%, with an adjusted effective tax rate of about 23% excluding the impact of the VMS sale[9] - The effective tax rate for the three months ended December 31, 2024, was 18.1%, compared to 29.3% for the same period in 2023[31] - The company recognized approximately $25 million in insurance recoveries related to the cyberattack during the three months ended December 31, 2024[31] - The company incurred cyberattack costs of $25 million for the three months ended Dec. 31, 2024, net of insurance recoveries[35] Financial Position - Total assets decreased to $5,577 million as of 12/31/2024, down from $5,751 million on 6/30/2024 and $5,908 million on 12/31/2023[38] - Current liabilities increased to $1,730 million as of 12/31/2024, compared to $1,574 million on 6/30/2024 and $2,022 million on 12/31/2023[38] - Long-term debt remained stable at $2,483 million as of 12/31/2024, slightly up from $2,481 million on 6/30/2024 and $2,479 million on 12/31/2023[38] - Stockholders' equity showed a significant decline to $121 million as of 12/31/2024, down from $492 million on 6/30/2024 and $218 million on 12/31/2023[38] - Cash and cash equivalents increased to $290 million as of 12/31/2024, up from $202 million on 6/30/2024 but down from $355 million on 12/31/2023[38] - Receivables decreased to $603 million as of 12/31/2024, compared to $695 million on 6/30/2024 and $679 million on 12/31/2023[38] - Inventories decreased to $592 million as of 12/31/2024, down from $637 million on 6/30/2024 and $655 million on 12/31/2023[38] - Total current assets slightly increased to $1,632 million as of 12/31/2024, compared to $1,622 million on 6/30/2024 but down from $1,804 million on 12/31/2023[38] - The company reported a retained earnings of $68 million as of 12/31/2024, a decrease from $250 million on 6/30/2024 and $241 million on 12/31/2023[38] - Total liabilities decreased to $5,456 million as of 12/31/2024, down from $5,259 million on 6/30/2024 and $5,690 million on 12/31/2023[38] Divestitures - The company completed the divestiture of its Better Health VMS business, which is expected to support its IGNITE strategy and improve sales growth and margins[22] - The company reported a loss on divestiture of $118 million related to the Better Health VMS business during the six months ended Dec. 31, 2024[34]

OAKLAND, Calif., Feb. 3, 2025 /PRNewswire/ -- The Clorox Company (NYSE: CLX) today reported results for the second quarter of fiscal year 2025, which ended Dec. 31, 2024. Alongside these results, the company also announced that Clorox and P&G have jointly decided to wind down the Glad® bags and wraps joint venture as of Jan. 31, 2026, and the company intends to acquire P&G's 20% interest in the venture at its termination.   Second-Quarter Fiscal Year 2025 Summary Following is a summary of key results for th ...

Athitat Shinagowin/iStock via Getty Images Listen here or on the go via Apple Podcasts and Spotify Steven Cress talks to Kim Khan about his top dividend picks for the year. How dividend stocks may fare in 2025 (1:25). Highlighting Quant dividend grades (5:05). Why NewLake Capital Partners is a hold but still recommended (7:20). John Wiley & Sons' great safety grade; Clorox's good diversification and profitability (8:45). CareTrust REIT's strong valuation (11:45). Northrop Grumman's record backlog (13 ...

OAKLAND, Calif., Jan. 28, 2025 /PRNewswire/ -- The Clorox Company (NYSE: CLX) today announced that after nearly 30 years with the company, Chief Financial Officer Kevin Jacobsen has decided to retire effective April 1. Luc Bellet, an 18-year Clorox veteran, will succeed Kevin and they will work together on an orderly transition. Luc Bellet, The Clorox Company Jacobsen joined Clorox in 1995 and has served as CFO since 2018. During his tenure as CFO, Jacobsen has driven the company's IGNITE strategy and ...

The Clorox Company (CLX) is likely to register a decline in top and bottom lines when it reports second-quarter fiscal 2025 results on Feb. 3, after market close.The Zacks Consensus Estimate for revenues is pegged at $1.64 billion, suggesting a decrease of 17.8% from the prior-year quarter. The consensus mark for quarterly earnings has risen 1.4% in the past seven days to $1.40 per share, indicating a decline of 35.2% from the figure reported in the year-ago quarter. CLX delivered an earnings surprise of 45 ...

The Clorox Company (CLX) is trading above its 200-day simple moving average (SMA), signaling a bullish trend. The company's strategic pricing actions and cost-saving measures are contributing to enhanced gross margins.The 200-day SMA is a key indicator for traders and analysts to identify support and resistance levels. It is considered particularly important as it is the first marker of a stock’s uptrend or downtrend.CLX Stock Trading Above 200 Day Moving AverageImage Source: Zacks Investment ResearchCLX ha ...

Clorox (CLX) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended December 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on February 3. On t ...

Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering Clorox (CLX) , which belongs to the Zacks Consumer Products - Staples industry.This consumer products maker has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 27.47%.For the last reported quarter, Clorox came out with earnings of $1.8 ...

Company Overview - CloroxPro is a division of The Clorox Company (NYSE: CLX) and offers trusted commercial cleaning brands, including Clorox Healthcare products for healthcare facilities [2] - The company has a century-long legacy in cleaning and disinfecting and is committed to meeting the demands of industry professionals and commercial facilities such as offices, schools, athletic facilities, and hospitals [2] - CloroxPro launched the 2024 Clean Index report, which details the perceptions, needs, and challenges of over 1,500 cleaning professionals and consumers [4] Industry Trends - Eco-conscious cleaner adoption is at an all-time high, with two in three cleaning professionals stating their facility uses such solutions [6] - 60% of cleaning professionals reported that their facility has set a business goal to use more eco-conscious products [6] - More than half of consumers continue to be concerned about germ exposure at work, with 79% noting the importance of businesses providing disinfecting wipes [7] Challenges Faced by Cleaning Professionals - 50% of cleaning professionals experienced burnout within the last year, with almost half reporting an increase in burnout levels over the past two years [5] - A lack of training is a key factor contributing to burnout, with 60% of cleaning professionals not feeling confident that the areas they manage are properly cleaned and disinfected due to insufficient training programs [5] Product Innovations and Solutions - CloroxPro launched Clorox EcoClean Disinfecting Wipes in 2024 and continues to develop innovative products and solutions to meet the evolving needs of cleaning professionals [1] - The company emphasizes the importance of ready-to-use (RTU) products for efficient cleaning and disinfection of high-traffic areas and frequently touched surfaces [7] Survey Methodology - Data for the 2024 Clean Index report was collected through an online survey in September 2024, involving 1,000 consumers and 511 cleaning industry professionals [8] - The consumer sample was nationally representative based on age, gender, region, race/ethnicity, and income, while the cleaning professionals included frontline workers, decision-makers, building service contractors, and infection preventionists in Education, Government, or Healthcare settings [8]