Welcome to our dedicated page for Clorox Company news (Ticker: CLX), a resource for investors and traders seeking the latest updates and insights on Clorox Company stock.
The Clorox Company (NYSE: CLX) is a globally recognized brand with a diverse portfolio of products that have become household names. Headquartered in Oakland, California since 1913, Clorox is renowned for its commitment to championing everyday wellness and sustainability. The company manufactures and markets cleaning supplies, laundry care products, trash bags, cat litter, charcoal, food dressings, water filtration solutions, and natural personal care products across more than 100 countries.
Clorox holds a significant market share with iconic brands such as Clorox® bleach and cleaning products, Ayudín® and Poett® home care products, Pine-Sol® dilutable cleaner, Fresh Step® cat litter, Kingsford® charcoal, Hidden Valley® and K C Masterpiece® dressings and sauces, Brita® water filtration products, Glad® bags, wraps, and containers, and Burt's Bees® natural personal care products. The company’s products are manufactured in over two dozen countries and marketed internationally.
Recently, Clorox has focused on operational recovery and growth despite challenges, such as a cyberattack in August 2023. The company reported strong recovery and rebuilding efforts, reflecting in its second and third-quarter fiscal results for 2024. Additionally, Clorox continues to innovate and invest in sustainability, achieving milestones like zero-waste-to-landfill status for its plants in Asia and the Middle East.
Strategic moves include divesting its Argentina operations to focus on core businesses, supporting its IGNITE strategy. Clorox’s financial outlook remains robust, with ongoing investments in digital capabilities and productivity enhancements expected to yield significant cost savings and operational efficiencies.
Clorox’s dedication to ESG (Environmental, Social, and Governance) principles has earned it top rankings in sustainability lists. The company remains committed to driving profitable growth while making a positive impact on the environment and society.
The Clorox Company Foundation is supporting Equal Justice Works fellow Darby Aono-Shek at UnCommon Law, an Oakland-based organization fighting for incarcerated people's rights in California's parole system. UnCommon Law provides trauma-informed legal counseling to help prepare safe pathways home from prison and challenges illegal parole denials.
Aono-Shek's fellowship focuses on helping older incarcerated individuals, many of whom are Black and Latinx, challenge illegal parole denials. Her work includes direct representation and developing a comprehensive guide for filing habeas petitions without an attorney. This initiative aims to empower more incarcerated people to hold the parole board accountable, especially those who can't afford legal representation.
Clorox's Pine-Sol brand has introduced a new, more concentrated line of multisurface cleaners, aligning with the company's IGNITE strategy and environmental goals. The reformulated product offers twice the cleaning power in every drop, requiring smaller bottles and reducing plastic usage by 40-50%. The new bottles are made with a minimum of 50% post-consumer recycled plastic, contributing to Clorox's 2025 sustainability goals.
This innovation supports Clorox's aim to achieve a 50% combined reduction in virgin plastic and fiber packaging by 2030. The concentrated formula maintains Pine-Sol's effectiveness while reducing water content, potentially decreasing the brand's shipping footprint. This move demonstrates Clorox's commitment to sustainability without compromising product quality or consumer value.
The Clorox Change Makers initiative highlights employees who promote diversity, inclusion, and allyship. This installment focuses on Cassie Hairston, a senior engineer for Glad and Brita in the Supply Chain organization. Cassie was nominated by Kendall Stout for her efforts in eliminating mental health stigma.
Cassie is involved with the American Foundation for Suicide Prevention and serves as chief of staff for Clorox's Mental Health Champions ERG. She openly shares her experience as a suicide survivor, providing support to others. Cassie recently spoke at Clorox's global IDEAcon, tailoring ERG content to reach production teammates and improving culture across ERG communities.
For Cassie, allyship in mental health means advocating for open conversations and treating mental health with the same importance as physical health. She advises others to practice active listening, educate themselves about mental health challenges, and speak up against stigma and discrimination.
The Clorox Company Foundation is supporting Equal Justice Works fellow Elissa Gray, who works with the Family Violence Appellate Project (FVAP) to protect the legal rights of low-income domestic violence survivors in California. Gray's fellowship focuses on increasing access to appellate-level writ review for survivors facing harmful family court orders. Writs are emergency remedies designed for situations where survivors have no other way to challenge problematic trial court decisions.
Gray's project involves direct representation of survivors, community partnerships, and developing free writ resources across California. A recent case highlighted the importance of this work, where a writ petition challenged a trial court's denial of a temporary move-out order for a youth client. The Court of Appeal's decision confirmed the trial court's error and provided guidance on move-out order standards, demonstrating the critical need for accessible writ review for domestic violence survivors.
Clorox (NYSE: CLX) announced that its top executives will participate in a fireside chat at the Barclays Global Consumer Staples Conference on September 4, 2024, in Boston. Chair and CEO Linda Rendle and CFO Kevin Jacobsen will represent the company at this event.
The presentation is scheduled for 3:00 p.m. ET (12:00 p.m. PT) and will be accessible via webcast on Clorox's website. For those unable to attend or watch live, a replay of the webcast will be made available after the event.
This participation in a major industry conference suggests Clorox's commitment to engaging with investors and analysts, potentially discussing company strategies, market trends, and financial performance.
CloroxPro is launching Clorox EcoClean Disinfecting Wipes, a new line of plant-based wipes to meet the growing demand for environmentally friendly cleaners in public facilities. These wipes use naturally derived ingredients, including a citric acid active ingredient, and are made with a 100% plant-based substrate. They kill 99.9% of germs without bleach, ammonia, or alcohol.
The wipes are part of the broader Clorox EcoClean product line, certified under EPA's Design for the Environment and Safer Choice programs. They support sustainability goals like LEED and ISSA CIMS-Green Building. This launch aligns with Clorox's ESG goals, including reducing virgin plastics in their supply chain by 50% by 2030. All Clorox EcoClean products use at least 25% post-consumer recycled plastic packaging.
Clorox's Glad brand is making significant strides in sustainability, as highlighted by Chris Nielsen, director of innovation and sustainability. Glad has integrated sustainability into its core operations, focusing on reducing plastic waste and improving recycling solutions. Key achievements include:
1. Glad drawstring trash bags use less plastic than competitors, potentially saving 100 million pounds of plastic waste annually if widely adopted.
2. 100% renewable energy used in North American manufacturing plants.
3. 99% recyclable packaging materials.
4. Partnership with Recyclops to improve recycling access.
These initiatives align with Clorox's IGNITE strategy, which integrates environmental, social, and governance goals into the company's overall business approach.
CloroxPro has introduced Clorox EcoClean Disinfecting Wipes, expanding its eco-conscious product line. These Design for the Environment (DfE)-certified wipes are made with a 100% plant-based substrate and naturally-derived citric acid active ingredient. They kill 99.9% of germs without bleach, ammonia, or alcohol, and use 38% less plastic. The wipes are effective against cold and flu viruses, norovirus, and COVID-19.
This launch responds to increasing demand for eco-friendly cleaners in facilities. The Clorox EcoClean portfolio now includes disinfecting wipes, disinfecting cleaner, all-purpose cleaner, and glass cleaner. All products use 25% post-consumer recycled plastic packaging and can help facilities meet sustainability goals, including LEED and ISSA CIMS - Green Building requirements.
Clorox (NYSE: CLX) reported Q4 and FY24 results, announcing a 6% decrease in Q4 net sales to $1.9 billion and a 4% decrease in FY24 net sales. Despite this, the company saw gross margin expansion and double-digit adjusted EPS growth. Clorox also announced the sale of its Better Health Vitamins, Minerals and Supplements business to Piping Rock Health Products,
Key Q4 highlights include:
- Diluted EPS increased 22% to $1.73
- Adjusted EPS rose 9% to $1.82
- Gross margin improved by 380 basis points to 46.5%
For FY25, Clorox expects:
- Net sales to be flat to down 2%
- Organic sales growth of 3% to 5%
- Adjusted EPS between $6.55 and $6.80, a 6% to 10% increase
Clorox (NYSE: CLX) has announced an increase in its quarterly dividend from $1.20 to $1.22 per share on the company's common stock. The dividend is payable on August 30, 2024, to shareholders of record as of the close of business on August 14, 2024. This move underscores Clorox's commitment to providing value to its shareholders through regular dividend payments and annual increases. The dividend hike, although modest, demonstrates the company's confidence in its financial stability and long-term growth prospects.
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