2024-02-22 17:09:12 ET
Clorox Co (CLX)
Consumer Analyst Group of New York Virtual Conference Call
February 22, 2024, 14:00 ET
Company Participants
Kevin Jacobsen - EVP & CFO
Linda Rendle - CEO & Chairman
Conference Call Participants
Olivia Cheang - Raymond James & Associates
Dara Mohsenian - Morgan Stanley
Peter Grom - UBS
Christopher Carey - Wells Fargo Securities
Andrea Teixeira - JPMorgan Chase & Co.
Presentation
Unidentified Analyst
Next up, I'm happy to welcome Clorox back to the CAGNY stage. It's certainly been an eventful few years for Clorox to say the least, but the company continues to prove out its resilience, durability and operational prowess as they've navigated a demand normalization in several categories following the COVID boom, not to mention a malicious cyber attack, after which they quickly recovered shelf space at key retail partners along with consumer demand after some initial disruption.
They also continue to make substantial progress in rebuilding profitability back to pre-COVID margin levels, all while reinvesting in the business to support long-term goals. With these disruptions increasingly cleaned up, its core capabilities are beginning to shine through, driving strong top and bottom line growth via its IGNITE strategy.
Here with us today, we have Chair and CEO, Linda Rendle; and CFO, Kevin Jacobsen. With that, I'll pass it to Linda.
Linda Rendle
Good afternoon, everyone. , thank you for that wonderful warm welcome, and thank you for bringing the humor since I will not be bringing much of that to the stage. So appreciate the start. Thank you for the introduction. You all know this presentation contains forward-looking statements. I know you take that as seriously as we do. And with that, we'll get started.
So what I want to talk today about is how our IGNITE strategy continues to position us well for the future. We have strong brands with superior value in categories and consumers' everyday lives. We made strong progress in fiscal year '23, meeting and exceeding every one of our objectives, but we have a while to go before we rebuild earnings. And of course, the cyber attack that happened in August did impact that. But we remain confident in our ability to drive profitable growth and deliver value for all of our stakeholders over time.
I know there is probably a lot of anxiousness to hear about where we are on a recovery from the cyber attack, and I will spend time on that at the end. But I want to spend the majority of the time talking about how we are transforming our company to be faster growing and more resilient. And that will be the entire focus of the presentation today. ...
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Clorox Co (CLX) Consumer Analyst Group of New York Virtual Conference Call Transcript