CLOROX CO /DE/ (CLX)

The Clorox Company is a leading multinational manufacturer and marketer of consumer and professional products, founded in Oakland, California, in 1913 and incorporated in Delaware, generating fiscal year 2023 net sales of $7.4 billion with approximately 8,700 employees worldwide. The Company operates in about 25 countries or territories, selling products in more than 100 markets through mass retailers, grocery outlets, warehouse clubs, dollar stores, home hardware centers, drug/pet/military stores, e-commerce channels, and distributors. Its portfolio includes trusted brands such as Clorox bleach and cleaning products, Pine-Sol, Tilex, Liquid-Plumr, Glad bags and wraps, Fresh Step cat litter, Kingsford grilling products, Hidden Valley dressings, Burt's Bees personal care, Brita water-filtration products, and vitamins/supplements brands including Natural Vitality, RenewLife, NeoCell and Rainbow Light, along with professional products under CloroxPro and Clorox Healthcare; about 80% of sales come from brands holding No. 1 or No. 2 market share positions.

The Company operates through four reportable segments—Health and Wellness, Household, Lifestyle, and International—with cleaning products, bags and wraps, food products, and cat litter each representing significant portions of consolidated net sales. Guided by its IGNITE strategy launched in 2019, the Company focuses on profitable growth, innovation, operational transformation, and portfolio evolution, integrated with ESG goals. In fiscal 2023, net sales grew 4% driven by pricing actions and cost savings, though diluted EPS fell 68% due to a $445 million noncash impairment in the Vitamins, Minerals and Supplements business, ongoing digital transformation investments (part of a ~$500 million five-year initiative), and implementation of a streamlined operating model expected to generate $75-100 million in annual cost savings.

The Company faces raw material sourcing risks including reliance on sole/single-source suppliers for key inputs like resin, sodium hypochlorite, and agricultural commodities, and operates in a highly competitive market against national brands and private labels. Walmart accounted for 26% of fiscal 2023 net sales, with the top five customers representing nearly half of consolidated net sales. The Company emphasizes human capital management through its IDEA (Inclusion, Diversity, Equity & Allyship) strategy, employee engagement initiatives, workplace safety programs, and community investment through The Clorox Company Foundation, while maintaining a 21-year streak of consecutive dividend increases and paying $583 million in dividends during fiscal 2023.