The Clorox Company (CLX) Q3 2023 Earnings Call Transcript

The Clorox Company (NYSE:CLX) Q3 2023 Earnings Conference Call May 2, 2023 5:00 PM ET

Company Participants

Lisah Burhan - VP, IR

Linda Rendle - CEO

Kevin Jacobsen - CFO

Conference Call Participants

Andrea Teixeira - JPMorgan

Peter Grom - UBS

Anna Lizzul - Bank of America

Dara Mohsenian - Morgan Stanley

Filippo Falorni - Citi

Lauren Lieberman - Barclays

Olivia Tong - Raymond James

Christopher Carey - Wells Fargo

Javier Escalante - Evercore ISI

Stephen Powers - Deutsche Bank

Jason English - Goldman Sachs

Kevin Grundy - Jefferies

Operator

Good day, ladies and gentlemen, and welcome to the Clorox Company Third Quarter Fiscal Year 2023 Earnings Release Conference Call. At this time, all participants are in a listen-only mode. At the conclusion of our prepared remarks, we will conduct a question-and-answer session. [Operator Instructions] As a reminder, this call is being recorded.

I would now like to introduce your host for today's conference call, Ms. Lisah Burhan, Vice President of Investor Relations for the Clorox Company. Ms. Burhan, you may begin.

Lisah Burhan

Thanks, Jen. Good afternoon, and thank you for joining us. On the call with me today are Linda Rendle, our CEO; and Kevin Jacobson, our CFO. I hope everyone has had a chance to review our earnings release and prepared remarks, both of which are available on our website. In just a moment, Linda will share a few opening comments, and then we'll take your questions.

During this call, we may make forward-looking statements, including about fiscal year 2023 outlook. These statements are management's current expectations that may differ from actual results or outcomes. In addition, we may refer to certain non-GAAP financial measures. Please refer to the forward-looking statements section, which identify various factors that could affect such forward-looking statements, which have been filed with the SEC.

In addition, please refer to the non-GAAP financial information section of our earnings release and the supplemental financial schedule in the Investor Relations section of our website for a reconciliation of non-GAAP financial measures to the most directly comparable GAAP measures.

Now I'll turn it over to Linda.

Linda Rendle

Hello, everyone, and thank you for joining us. We delivered strong results in the third quarter and made a challenging operating and cost environment, with organic sales growth in all four segments, gross margin expansion and double-digit adjusted EPS growth. Our performance reflects solid execution by our team, the strength and resilience of our portfolio, the superior value of our brands and the relevance of our IGNITE strategy. Based on our strong performance, we're raising our fiscal year outlook.