The Clorox Company (CLX) Q2 2023 Earnings Call Transcript

The Clorox Company (NYSE:CLX) Q2 2023 Earnings Conference Call February 2, 2023 5:00 PM ET

Company Participants

Lisah Burhan - Vice President, Investor Relations

Linda Rendle - Chief Executive Officer

Kevin Jacobsen - Chief Financial Officer

Conference Call Participants

Peter Grom - UBS

Dara Mohsenian - Morgan Stanley

Andrea Teixeira - JPMorgan

Kaumil Gajrawala - Credit Suisse

Christopher Carey - Wells Fargo

Jason English - Goldman Sachs

Kevin Grundy - Jefferies

Lauren Lieberman - Barclays

Olivia Tong - Raymond James

Anna Lizzul - BofA Securities

Stephen Powers - Deutsche Bank

Operator

Good day, ladies and gentlemen, and welcome to The Clorox Company Second Quarter Fiscal Year 2023 Earnings Release Conference Call. [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 your conference.

Lisah Burhan

Thank you, Jen. Good afternoon, and thank you for joining us. On the call with me today are Linda Rendle, our CEO; and Kevin Jacobsen, 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 our fiscal 2023 outlook. These statements are based on management's current expectations, but 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 identifies various factors that could affect such forward-looking statements which has been filed with the SEC. In addition, please refer to the Non-GAAP Financial Information section of our earnings release and the supplemental financial schedules 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. As I mentioned in our prepared remarks, despite persistent macroeconomic headwinds, we delivered better-than-expected Q2 results, with organic sales growth in three of four segments: gross margin expansion, and double-digit earnings growth. Our performance reflects the strength and superior value of our brands, strong execution across a broad set of actions and the benefit of some timing shifts. As a result, we've updated our full year outlook.