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Last $107.14 USD
Change Today +0.25 / 0.23%
Volume 576.5K
CLX On Other Exchanges
Symbol
Exchange
New York
Stuttgart
As of 4:15 PM 06/3/15 All times are local (Market data is delayed by at least 15 minutes).

clorox company (CLX) Key Developments

The Clorox Company Presents at Sanford C. Bernstein Thirty-First Annual Strategic Decisions Conference 2015, May-28-2015 04:00 PM

The Clorox Company Presents at Sanford C. Bernstein Thirty-First Annual Strategic Decisions Conference 2015, May-28-2015 04:00 PM. Venue: The Waldorf Astoria Hotel, 301 Park Avenue (between 49th and 50th Street), New York, New York, United States. Speakers: Benno Dorer, Chief Executive Officer and Director.

The Clorox Company Announces Board Changes

On May 11, 2015, the board of directors of The Clorox Company accepted the resignation from the Board of Donald R. Knauss, effective July 1, 2015. Mr. Knauss served as Chairman and CEO of the Company from October 2006 through November 2014, when he became Executive Chairman. The termination date for Mr. Knauss' service as Executive Chairman will be June 30, 2015. On May 11, 2015, the Board also elected Spencer C. Fleischer to the Board, effective July 1, 2015. On May 13, 2015, the Board elected Christopher J. Williams to the Board, effective July 1, 2015. Messrs. Spencer and Williams will be entitled to compensation in accordance with the Company's standard non-employee director compensation program. The Board also appointed George Harad as Independent Chair of the Board, effective July 1, 2015. Robert Matschullat was appointed chair of the Nominating and Governance Committee, effective May 13, 2015, and Jeffrey Noddle was appointed chair of the Management Development and Compensation Committee, effective July 1, 2015.

The Clorox Company Increases Quarterly Cash Dividend, Payable on August 7, 2015

The Clorox Company announced that its board of directors increased the quarterly cash dividend on the company's common stock by 4%, from 74 cents to 77 cents per share. The dividend will be payable on August 7, 2015, to stockholders of record as of July 22, 2015.

The Clorox Company Reports Unaudited Consolidated Earnings Results for Third Quarter and Nine Months Ended March 31, 2015; Revised Earnings Outlook for the year 2015

The Clorox Company reported unaudited consolidated earnings results for third quarter and nine months ended March 31, 2015. For the quarter, the company’s net sales were $1,401 million against $1,366 million a year ago. Earnings from continuing operations before income tax were $217 million against $226 million a year ago. Earnings from continuing operations were $144 million against $151 million a year ago. Net earnings were $174 million against $137 million a year ago. Diluted net earnings per share from continuing operations were $1.08 against $1.14 a year ago. Diluted net earnings per share were $1.30 against $1.04 a year ago. EBIT was $241 million against $250 million a year ago. EBITDA was $282 million against $293 million a year ago. For the nine months, the company’s net sales were $4,098 million against $4,017 million a year ago. Earnings from continuing operations before income tax were $632 million against $621 million a year ago. Earnings from continuing operations were $417 million against $408 million a year ago. Net earnings were $389 million against $388 million a year ago. Diluted net earnings per share from continuing operations were $3.14 against $3.10 a year ago. Diluted net earnings per share were $2.93 against $2.94 a year ago. Net cash provided by continuing operations – GAAP was $481 million against $444 million a year ago. Capital expenditures were $83 million against $87 million a year ago. For the fiscal year 2015, the company now anticipates sales to grow in the range of 1% to 2%. Clorox's updated sales outlook reflects stronger results through the third quarter and more than 2 percentage points of impact from unfavorable foreign currency exchange rates. Other moderating factors include slowing economies in international markets and an increase in trade-promotion spending to drive the company's core business and trial of new products in a highly competitive environment. Clorox continues to anticipate moderate gross margin expansion in fiscal year 2015, reflecting the benefit of cost savings and price increases. The company continues to anticipate commodity costs to be about flat due to energy cost declines. Offsetting factors to gross margin expansion include higher logistics costs, as well as the aforementioned increase in trade-promotion spending. Clorox continues to anticipate EBIT margin to be about flat for fiscal year 2015, reflecting moderate gross margin expansion, offset by higher performance-based incentive compensation costs. The company's fiscal-year EBIT margin also reflects higher demand-building investments. Clorox continues to anticipate its effective fiscal year 2015 tax rate to be about 34%. Net of all these factors, the company now anticipates fiscal year 2015 diluted EPS from continuing operations in the range of $4.45 to $4.55 against $4.40 to $4.55 as previously expected.

The Clorox Company to Report Q3, 2015 Results on May 01, 2015

The Clorox Company announced that they will report Q3, 2015 results at 10:30 AM, Pacific Standard Time on May 01, 2015

 

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