Clorox Q2 EPS $0.80 ($0.98 adj.) beats; net sales +1% to $1.72B; gross margin up 320 bps

CLOROX CO /DE/

2023-Q2 EPS reported $1.49 revenue$3,455,000,000

Net sales $1.72B, +1% vs prior year; organic sales +4% driven by price mix (+14%) offsetting volume decline (-10%).
GAAP diluted EPS $0.80, +43%; adjusted EPS $0.98, +48%, reflecting pricing and cost savings despite higher costs.
Gross margin improved 320 bps to 36.2% from 33.0% due to price increases and cost savings, partly offset by commodities and manufacturing headwinds.
YTD net cash from operations $387M, up 74% from $222M; free cash flow $299M (8.7% of net sales).
CEO Linda Rendle said results were better than expected; company updated outlook amid ongoing margin recovery and strategic investments.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CLOROX CO /DE/ reported the second quarter of fiscal year 2023, which ended Dec. 31, 2022 results: revenue $1.72 billion, EPS 80 cents.

Period: the second quarter of fiscal year 2023, which ended Dec. 31, 2022
Revenue: $1.72 billion
EPS: 80 cents
Result: reported results

Exact text from the filing

Following is a summary of key second-quarter results. All comparisons are with the second quarter of fiscal year 2022 unless otherwise stated. • Net sales increased 1% to $1.72 billion compared to an 8% net sales decrease in the year-ago quarter. The net sales increase was driven largely by favorable price mix, partially offset by lower volume . Organic sales 1

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Source: SEC EDGAR

accession 0000021076-23-000005

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