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Jun 30, 2022
Clorox Q4 2022 Earnings Report
Reported flat net sales, increased diluted EPS, and provided FY23 outlook.
Key Takeaways
Clorox reported flat net sales of $1.8 billion for Q4 2022, with organic sales up 1%. Diluted EPS increased by 4% to $0.81, while adjusted EPS decreased by 2% to $0.93. The company announced a streamlined operating model expected to generate $75 million to $100 million in annual savings.
Net sales of $1.8 billion were flat, with a 1% increase in organic sales.
Gross margin was flat at 37.1% due to elevated costs, offset by pricing and cost savings.
Diluted EPS increased 4% to $0.81, while adjusted EPS decreased 2% to $0.93.
Announced a streamlined operating model to improve efficiency and decision-making.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Clorox expects net sales to be down 4% to up 2% and organic sales to be down 3% to up 3% for fiscal year 2023. Gross margin is expected to increase by about 200 basis points.
Positive Outlook
- Gross margin is expected to increase by about 200 basis points due to pricing, cost savings, and supply chain optimization.
- Cost savings from streamlined operating model.
- Commitment to invest behind brands.
- Supply chain optimization.
- Benefits beginning in fiscal year 2023.
Challenges Ahead
- Net sales are expected to be down 4% to up 2%.
- Organic sales are expected to be down 3% to up 3%.
- Continued cost inflation.
- Normalization of demand in cleaning and disinfecting portfolio.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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