Clorox Q1 sales down 4% to $1.74B; EPS falls 40%; confirms FY outlook

CLOROX CO /DE/

2023-Q1 EPS reported $0.68 revenue$1,740,000,000

Diluted EPS of $0.68, down 40% YoY; adjusted EPS $0.93, down 23%.
Gross margin 36%, down 110 bps due to higher manufacturing, logistics, and commodity costs.
Organic sales fell 2%; volume down 15% overall, partially offset by 13% favorable price/mix.
Net cash from operations $178M, up 334% YoY; free cash flow $132M vs. -$11M a year ago.
CEO says results better than expected; maintains FY2023 outlook amid ongoing macro headwinds.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CLOROX CO /DE/ reported first quarter of fiscal year 2023, which ended Sept. 30, 2022 results: revenue $1.74 billion, EPS 68 cents. Guidance reaffirmed.

Period: first quarter of fiscal year 2023, which ended Sept. 30, 2022
Revenue: $1.74 billion
EPS: 68 cents
Guidance: reaffirmed
Result: reported results

Exact text from the filing

The Clorox Company (NYSE: CLX) today reported results for the first quarter of fiscal year 2023, which ended Sept. 30, 2022. First-Quarter Fiscal Year 2023 Summary Following is a summary of key first-quarter results. All comparisons are with the first quarter of fiscal year 2022 unless otherwise stated. • Net sales decreased 4% to $1.74 billion compared to a 6% net sales decrease in the year-ago quarter. The net sales decrease was driven largely by lower volume, partially offset by favorable price mix. Organic sales 1 were down 2%. The three-year average growth rate for net sales was up 5%. • Gross margin decreased 110 basis points to 36% from 37.1% in the year-ago quarter, due to higher manufacturing and logistics costs, higher commodity costs, and lower volume, partially offset by the benefits of pricing and cost savings initiatives. • Diluted net earnings per share (diluted EPS) decreased 40% to 68 cents from $1.14 in the year-ago quarter.

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Source: SEC EDGAR

accession 0000021076-22-000033

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