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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.
Clorox
Clorox
Clorox Revenue by Segment
Clorox Revenue by Geographic Location
Revenue by Segment
Household Revenue
CapyFin.comLifestyle Revenue
CapyFin.comInternational Revenue
CapyFin.comRevenue by Geographic Location
International Revenue
CapyFin.com 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.
- Consumer behaviors adapting to ongoing inflation.
Revenue & Expenses
Visualization of income flow from segment revenue to net income