Clorox Company - CLX STOCK NEWS

Brita is expanding its partnership with U.S. municipalities to address lead contamination in drinking water, following stringent EPA regulations. With the ongoing Biden Administration's infrastructure initiative, which aims to replace outdated water systems over 15 years, Brita aims to offer immediate relief through lead-reducing Elite pitchers. The initiative targets eliminating reliance on 20 billion single-use plastic bottles per year by 2030, while assisting vulnerable communities. This partnership includes providing affordable filtration solutions and educational resources to ensure safe drinking water access.

The Clorox Company (NYSE: CLX) reported a net sales increase of 2% to $1.8 billion in Q3 FY2022, due to higher shipments across segments. However, gross margin decreased by 760 basis points to 35.9%, impacted by rising manufacturing and commodity costs. Diluted EPS rose to $1.21, a 347% increase from a loss in the prior year, while adjusted EPS fell 19% to $1.31. The fiscal outlook indicates a net sales decrease of 1% to 4%, with diluted EPS projected between $3.60 and $3.85, reflecting a decline of 31% to 35%. Clorox continues to innovate and pursue strategic investments amidst inflationary pressures.

The Clorox Company (NYSE: CLX) has signed a 12-year, 47-megawatt virtual power purchase agreement with Enel Green Power North America to boost its renewable electricity supply starting in 2023. This agreement aims to fulfill Clorox's commitment to 100% renewable energy for its U.S. and Canada operations, covering about half of its electricity needs. The initiative, along with earlier efforts, is expected to reduce CO2 emissions by nearly 160,000 metric tons annually. The move aligns with the company's broader ESG goals, including a target for net zero emissions by 2050.

The Clorox Company (NYSE: CLX) launched the Healthy Parks Project on Earth Day, committing $200,000 to the Oakland Parks and Recreation Foundation. This initiative focuses on enhancing environmental justice by improving access to parks in underserved communities, starting in West Oakland. Over the first year, Clorox aims to contribute over $300,000 to parks organizations where they have a significant employee base. The company promotes community engagement through volunteer events and grants for environmental justice nonprofits, highlighting their commitment to diversity and inclusion.

The Clorox Company (NYSE: CLX) is set to release its third-quarter fiscal year 2022 results on May 2, 2022. A press release and prepared remarks will be posted at 1:15 p.m. PT and followed by a live Q&A webcast featuring CEO Linda Rendle and CFO Kevin Jacobsen at 2 p.m. PT. Clorox, known for brands like Pine-Sol and Glad, reported fiscal 2021 sales of $7.3 billion and employs approximately 9,000 individuals globally. The company is recognized for its commitment to corporate responsibility and sustainability.

Kingsford has launched a new line of Signature Flavors that combines charcoal briquets or pellets with 100% real spices, enhancing grilling experiences. Available in three flavors—Garlic Onion Paprika, Basil Sage Thyme, and Cumin Chili—these products are designed for easy customization. They cater to both novice and experienced grillers, with charcoal briquets releasing flavors as they cook and hardwood pellets for optimal grill performance. The products are available nationwide in sizes ranging from 2 to 17 pounds.

Hamilton Beach Brands, a subsidiary of Hamilton Beach Brands Holding Company (NYSE: HBB), has entered into an exclusive multiyear trademark licensing and product development agreement with Brita, a leader in at-home water filtration. This partnership aims to launch a new line of countertop water appliances later this year, promoting sustainable water filtration solutions. The collaboration is expected to tap into the growing demand for home health and wellness products, a market valued in the multibillion-dollar range. The agreement aligns with Hamilton Beach's strategy to innovate and expand its product offerings in health-focused categories.

On March 10, 2022, Hidden Valley Ranch unveiled a unique 2-carat diamond, crafted from its iconic seasoning, in celebration of National Ranch Day. This one-of-a-kind diamond, created through a meticulous process involving extreme heat and pressure, will be auctioned off until March 17, with a starting bid of $310. All proceeds will support Feeding America, with every dollar providing at least 10 meals. The roll-out coincides with a rise in proposals and weddings, with the winning bidder receiving the diamond just in time for National Proposal Day on March 20.