The Clorox Company Ltd. (NASDAQ: CLX) stock gained by 0.17% at last close whereas the CLX stock price fell by 11.59% in the pre-market. With about 9,000 people globally, the Clorox Company is a prominent international producer and retailer of consumer and professional goods. Clorox sells some of the most well-known and trusted consumer brands.
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CLX stock, Financial Results
The Clorox Company announced its fourth quarter and full year 2021 financial results. Given below is the summary:
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- The sales for the full year has been reported as 9% which is organic sales growth. Whereas for the fourth quarter 2021 the sales have decreased by 9% (the organic sales decrease reported as 10%).
- The diluted EPS for full year 2021 was $5.58 which is a 24% decrease. While the diluted EPS for the Q4 2021 was 78 cents making it a 68% compared to Q4 2020.
- The adjusted EPS for the fourth quarter was 95 cents a downfall of 61% relative to fourth quarter 2020. However for the full year 2021 the adjusted EPS was $7.25, a plunge of 2%.
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CEO, CLX Stock, Linda Rendle commented,
Clorox had an exceptional fiscal year in 2021, with the pandemic putting them to the challenge, including fast shifts in consumer need and price inflation, as seen by their fourth-quarter results. It bolstered their worldwide offering, which has never been more attractive to customers. It also revealed a potential to advance their IGNITE approach in order to take advantage of shifting consumer trends, distinguish Clorox, and win in their categories.
CLX has continued to progress their IGNITE strategy and major goals in the wake of a tough climate, including tripling their innovation investment and generating over $120 million in cost reductions in the fiscal year. They made headway in growing manufacturing capacity, attaining their best case fill rate since the beginning of the epidemic, which helped them take market share across the board. Their e-commerce, data-driven customization, and innovation efforts are all paying off. In the last two years, they have virtually quadrupled our e-commerce business and seen increased levels of consumer interaction.
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Furthermore,
In this volatile climate, CLX is laser-focused on operational performance, restoring the margins, and achieving market share increases as they enter fiscal year 2022. CLX is also investing heavily over the long term to expedite the digital transformation and improve their capabilities and brands in order to generate long-term profitable growth.