NYSE$CLX
Clorox Co · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Clorox reported better-than-expected results in the second quarter of fiscal year 2023, driven by strong execution, brand relevance, and pricing and cost savings efforts. Net sales increased slightly, and adjusted EPS saw a significant rise.
Clorox's Q2 2023 results showed a 1% increase in net sales to $1.72 billion, driven by favorable price mix, with organic sales up 4%. Gross margin improved to 36.2%. Diluted EPS increased 43% to $0.80, and adjusted EPS increased 48% to $0.98. The company is updating its fiscal year 2023 outlook, expecting net sales to be between a 2% decrease to a 1% increase and adjusted EPS to be between $4.05 and $4.30.
- Net sales increased 1% to $1.72 billion, with organic sales up 4%.
- Gross margin increased 320 basis points to 36.2%.
- Diluted EPS increased 43% to $0.80, and adjusted EPS increased 48% to $0.98.
- The company is updating its fiscal year 2023 outlook, expecting net sales to be between a 2% decrease to a 1% increase and adjusted EPS to be between $4.05 and $4.30.
Headline financials
Revenue & EPS history
Clorox · Revenue · Quarterly
$1.72B
Revenue by segment
Clorox · $1.08B total across 3 segments · Q2 2023
- Household$462M+9.2%42.8%
- Lifestyle$332M+2.5%30.7%
- International$286M-3.4%26.5%
Forward guidance
The company is updating the following elements of its fiscal year 2023 outlook: Net sales are now expected to be between a 2% decrease to a 1% increase (organic sales from flat to a 3% increase). Diluted EPS is now expected to be between $3.20 and $3.45, or a 14% to 8% decrease, respectively. Adjusted EPS is now expected to be between $4.05 and $4.30, or a 1% decrease to a 5% increase, respectively.
Tailwinds
- Net sales are now expected to be between a 2% decrease to a 1% increase (organic sales from flat to a 3% increase).
- Diluted EPS is now expected to be between $3.20 and $3.45, or a 14% to 8% decrease, respectively.
- Adjusted EPS is now expected to be between $4.05 and $4.30, or a 1% decrease to a 5% increase, respectively.
- Foreign exchange headwinds continue to represent about a 2-point reduction in sales.
- Gross margin increase of about 200 basis points, primarily due to the combined benefit of pricing, cost savings and supply chain optimization, more than offsetting continued cost inflation.
Headwinds
- Net sales are now expected to be between a 2% decrease to a 1% increase
- Diluted EPS is now expected to be between $3.20 and $3.45, or a 14% to 8% decrease, respectively.
- Adjusted EPS is now expected to be between $4.05 and $4.30, or a 1% decrease to a 5% increase, respectively.
- Foreign exchange headwinds continue to represent about a 2-point reduction in sales.
- Continued cost inflation.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
+0.0%
Avg return
Earnings day
+0.3%
Avg return
5 days after
+1.0%
Avg return
30 days after
55%
39 / 71 earnings
Positive
+9.5%
Q4 2023
Best reaction
-15.3%
Q2 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2026 | +0.5% | -6.7% | -6.6% | |
| Q2 2026 | +4.6% | +4.0% | -0.3% | |
| Q1 2026 | +1.1% | -1.6% | -3.7% | |
| Q3 2025 | -2.4% | -2.6% | -8.0% | |
| Q2 2025 | -7.2% | -7.1% | -7.1% | |
| Q1 2025 | +1.1% | +3.6% | +6.6% | |
| Q4 2024 | +9.2% | +8.6% | +20.0% | |
| Q3 2024 | -6.2% | -7.2% | -13.4% | |
| Q2 2024 | +7.6% | +6.6% | +4.7% | |
| Q1 2024 | +4.5% | +9.6% | +22.2% | |
| Q4 2023 | +9.5% | +7.9% | +2.3% | |
| Q3 2023 | +5.1% | +1.5% | -5.1% | |
| Q2 2023 | +7.2% | +5.0% | +7.9% | |
| Q1 2023 | -5.7% | -3.7% | +2.6% | |
| Q4 2022 | -4.2% | +0.5% | -0.7% | |
| Q3 2022 | +2.9% | +7.3% | -1.9% | |
| Q2 2022 | -15.3% | -14.2% | -13.3% | |
| Q1 2022 | +1.5% | +0.2% | +1.7% | |
| Q4 2021 | -8.6% | -10.3% | -6.2% | |
| Q3 2021 | -2.9% | -1.0% | -5.0% | |
| Q2 2021 | -6.5% | -8.4% | -9.9% | |
| Q1 2021 | +2.4% | +5.2% | -2.7% | |
| Q4 2020 | +0.5% | +0.4% | -5.4% | |
| Q3 2020 | +6.9% | +7.2% | +10.6% | |
| Q2 2020 | +6.1% | +6.7% | +12.8% | |
| Q1 2020 | -2.5% | -2.0% | -1.7% | |
| Q4 2019 | -3.5% | -5.1% | -2.7% | |
| Q3 2019 | -6.9% | -7.2% | -6.8% | |
| Q2 2019 | +1.9% | +3.9% | +4.7% | |
| Q1 2019 | +0.6% | +2.7% | +8.4% | |
| Q4 2018 | +6.6% | +5.5% | +8.1% | |
| Q3 2018 | +1.4% | +3.4% | +3.1% | |
| Q2 2018 | -9.5% | -8.9% | -6.7% | |
| Q1 2018 | +2.2% | +0.9% | +10.4% | |
| Q4 2017 | +1.9% | +2.0% | +4.6% | |
| Q3 2017 | +1.7% | +1.4% | +5.0% | |
| Q2 2017 | +2.9% | +5.7% | +13.9% | |
| Q1 2017 | -4.0% | -4.4% | -4.6% | |
| Q4 2016 | +2.8% | +1.4% | +1.3% | |
| Q3 2016 | +1.8% | — | — | |
| Q2 2016 | -5.1% | — | — | |
| Q1 2016 | +2.2% | — | — | |
| Q4 2015 | +4.4% | — | — | |
| Q3 2015 | +0.4% | — | — | |
| Q2 2015 | +0.3% | — | — | |
| Q1 2015 | +1.2% | — | — | |
| Q4 2014 | -0.6% | — | — | |
| Q3 2014 | -1.2% | — | — | |
| Q2 2014 | -2.1% | — | — | |
| Q1 2014 | -0.6% | — | — | |
| Q4 2013 | -0.7% | — | — | |
| Q3 2013 | -0.5% | — | — | |
| Q2 2013 | +1.0% | — | — | |
| Q1 2013 | +1.0% | — | — | |
| Q4 2012 | -0.6% | — | — | |
| Q3 2012 | -4.3% | — | — | |
| Q2 2012 | +1.0% | — | — | |
| Q1 2012 | -2.9% | — | — | |
| Q4 2011 | +4.1% | — | — | |
| Q3 2011 | +1.4% | — | — | |
| Q2 2011 | +1.3% | — | — | |
| Q1 2011 | -2.2% | — | — | |
| Q4 2010 | +0.4% | — | — | |
| Q4 2008 | +0.4% | — | — | |
| Q3 2010 | -1.5% | — | — | |
| Q3 2009 | -1.5% | — | — | |
| Q2 2010 | -0.1% | — | — | |
| Q2 2009 | -0.1% | — | — | |
| Q1 2009 | -0.9% | — | — | |
| Q4 2009 | -0.9% | — | — | |
| Q1 2010 | -0.9% | — | — |
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