Clorox Company - CLX STOCK NEWS

The Clorox Company (NYSE: CLX) has joined the Responsible Flushing Alliance alongside GOJO Industries to enhance consumer awareness regarding proper disposal habits through the #FlushSmart campaign. This initiative coincides with California's inaugural Flush Smart Day on July 1, promoting the 'Do Not Flush' symbol on packaging of single-use cleaning products. Clorox aims to promote health and safety by encouraging responsible disposal practices, while GOJO emphasizes improving hygiene solutions. The RFA continues to grow, inviting more industry stakeholders to contribute.

The Clorox Company (NYSE: CLX) announced the appointment of Julia Denman and Stephanie Plaines to its board of directors on May 18, 2022. Denman brings nearly 30 years of financial leadership experience from Microsoft and Procter & Gamble, while Plaines has over 30 years in finance, having worked with PepsiCo and Walmart. Their appointments expand the board from 11 to 13 members, enhancing its diversity with 46% female and 30% people of color representation. Both will serve on the audit committee.

The Clorox Company (NYSE: CLX) will present at three investor conferences in June 2022. CEO Linda Rendle and CFO Kevin Jacobsen will speak at the RBC Capital Markets Global Consumer & Retail Conference in Boston on June 1, the Bernstein 38th Annual Strategic Decisions Conference in New York on June 2, and the dbAccess Global Consumer Conference in Paris on June 15. The events will include live webcasts available on the company's website, where replays will also be posted. Clorox reported $7.3 billion in fiscal year 2021 sales and employs approximately 9,000 people.

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 With the ongoing Biden Administration's infrastructure initiative, which aims to replace outdated water systems over 15 years, Brita aims to offer immediate relief through lead-reducing Elite pitchers.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.