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Last $109.60 USD
Change Today -1.74 / -1.56%
Volume 722.2K
As of 8:04 PM 09/4/15 All times are local (Market data is delayed by at least 15 minutes).

clorox company (CLX) Key Developments

The Clorox Company Adopts Amendment to its Bylaws

The Clorox Company reported its board of directors has adopted an amendment to the company's bylaws allowing "proxy access" for director nominations. The company noted that the amendment to its bylaws provides that holders of at least 3% of Clorox's outstanding shares, who have held the shares continuously for three or more years, can nominate individuals for up to 20% of the board, for election at the company's annual stockholder meeting. Up to 20 stockholders may aggregate their shares to reach the 3% ownership threshold.

The Clorox Company Announces Consolidated Unaudited Earnings Results for the Fourth Quarter and Full Year Ended June 30, 2015; Provides Earnings Guidance for the Fiscal Year 2016

The Clorox Company announced consolidated unaudited earnings results for the fourth quarter and full year ended June 30, 2015. For the quarter, the company reported net sales of $1,557 million compared with $1,497 million for the same period last year. Earnings from continuing operations before income taxes were $289 million compared with $263 million for the same period last year. Earnings from continuing operations were $189 million or $1.44 diluted per share compared with $171 million or $1.30 diluted per share for the same period last year. Net earnings were $191 million or $1.46 diluted per share compared with $170 million or $1.29 diluted per share for the same period last year. The company said it benefited from improved sales, productivity and cost savings during the quarter. Fourth-quarter diluted EPS results reflect the benefits of higher sales and gross margin expansion. For the full year, the company reported net sales of $5,655 million compared with $5,514 million for the same period last year. Earnings from continuing operations before income taxes were $921 million compared with $884 million for the same period last year. Earnings from continuing operations were $606 million or $4.57 diluted per share compared with $579 million or $4.39 diluted per share for the same period last year. Net earnings were $580 million or $4.37 diluted per share compared with $558 million or $4.23 diluted per share for the same period last year. Net cash provided by continuing operations – GAAP was $858 million compared with $786 million for the same period last year. Capital expenditures were $125 million compared with $137 million for the same period last year. The company provided earnings guidance for the full fiscal year 2016. The company said that it expects earnings to be $4.68 per share to $4.83 per share. Sales are seen flat to up 1% from 2015. The company anticipates sales to be negatively impacted by several factors in International, including continued slowing of International economies and foreign currency declines with about half is anticipated from a significant devaluation of Argentina's currency. The company anticipates gross margin to be about flat for the fiscal year as the benefit of cost savings, pricing and somewhat lower commodity costs are expected to be offset by inflation impacting manufacturing and logistics costs. The company projects tax rate on earnings from continuing operations to be between 34% and 35%.

The Clorox Company, Q4 2015 Earnings Call, Aug 03, 2015

The Clorox Company, Q4 2015 Earnings Call, Aug 03, 2015

The Clorox Company Seeks Acquisitions

The Clorox Company (NYSE:CLX) said that they are open to doing bolt-on acquisitions.

Frank A. Tataseo, Executive Vice President - New Business Development to Retire from the Clorox Company, Effective October 1, 2015

On June 1, 2015, Frank A. Tataseo, executive vice president - new business development of The Clorox Company provided notice of his intention to retire on October 1, 2015, following 21 years of service with the company.

 

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CLX

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Price/Earnings 24.4x
Price/Sales 2.6x
Price/Book 121.4x
Price/Cash Flow 24.7x
TEV/Sales 2.1x
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