On this page of StockholderLetter.com we present the latest annual shareholder letter from CLOROX CO /DE/ — ticker symbol CLX. Reading current and past CLX letters to shareholders can bring important insights into the investment thesis.

 •  10/4/2024 Letter Continued (Full PDF)
 •  10/5/2023 CLX Stockholder Letter
 •  More "Consumer Goods" Category Stockholder Letters
 •  CLX Benford's Law Stock Score = 90

CLX Shareholder/Stockholder Letter Transcript:

FUTURE
FORWARD
2024 INTEGRATED ANNUAL REPORT
EXECUTIVE SUMMARY

FY24 BY THE NUMBERS
TABLE OF CONTENTS
$7.1B
100+
net sales
markets
~8,000
employees
~25
country/territory
operations
60%
portfolio
has superior
consumer
value*
v
3
as measured by our
consumer value metric

2
4
18
24
CEO Letter
IGNITE Strategy
Financial Performance
ESG Progress
This document is an abbreviated
version of The Clorox Company   s FY24
Integrated Annual Report. Please see
the full report (thecloroxcompany.
com/annualreport) for comprehensive
updates, detailed endnotes related
to our disclosures (pages 53-54) and
our assurance letter (pages 33-37).
Visit our ESG Data Hub at https://clorox.
metrio.net to view progress over time.

Through our IGNITE-led transformation,
we are building a stronger, more
resilient company for the FUTURE.
Our long-term investments and successful execution continue
to create stakeholder value and deliver on our purpose to
champion people to be well and thrive     every single day.

DEAR STAKEHOLDER,
  e entered   scal year 2024 with strong momentum but soon faced
both expected and unexpected complexity as we navigated a
challenging macroeconomic environment, a more pressured consumer
and the aftermath of our August 2023 cyberattack.
Thanks to the team   s steadfast execution, we quickly
100 million consumers, allowing us to deliver more
restored operations, fully rebuilt supply and distribution,
personalized experiences and deepen engagement
and recovered the vast majority of the market share
to deliver stronger marketing return on investment
we lost from the cyberattack. This strong recovery
and support our value superiority ratings.
re  ects the superior value of our brands, supported
by consistent investments through both good and
challenging times.
In the face of these hurdles, we continued to deliver on our
commitment to rebuild margin, expanding gross margin
by another 360 basis points, and are on track to return to
pre-pandemic gross margins in   scal year 2025.   e also
achieved another year of double-digit adjusted earnings
per share growth while investing strongly in our brands.
  hile there is still more work to do, we are now in a
position of operational strength as we continue to
execute our transformation and focus on delivering
superior consumer experiences that win in the market.
RELENTLESS EXECUTION OF OUR IGNITE STRATEGY
implementation of our streamlined operating model,
helping us become more consumer obsessed,
faster and leaner, and deliver expected ongoing
cost savings of about   100 million annually.   e
also completed the   rst wave of our new enterprise
resource planning (ERP) system implementation in
Canada and Global Finance. This work will enable a
more strategic, integrated environment across supply
chain,   nance and our business units, improving
our agility and ability to grow and operate more
ef  ciently. Our new ERP, along with catalysts such as
our integrated business planning tool, is a key part of
our   ve-year program to invest in technologies and
processes to accelerate our digital transformation.
    Evolve Portfolio:   e   re evolving our portfolio to
Our IGNITE strategy continues to serve us well     guiding
strengthen our core, exempli  ed by the divestiture of
us through the uncertainties of today while shaping the
our Argentina business. This re  ects our commitment
Clorox of tomorrow.   e have been relentlessly focused
to reduce volatility and accelerate sales growth as well
on executing this strategy and made progress against
as structurally improve our margin in service of driving
our long-term goals, including:
more consistent and pro  table growth over time.
    Fuel Growth:   e delivered on our hallmark costsavings program and made strong progress on our
commitment to rebuild margins to pre-pandemic
levels, supported by our new integrated, holistic
margin management toolbox, which enhances our
ability to fuel growth.
    Innovate Experiences: Innovation is the foundation
for success, and we are leveraging data, technology
and arti  cial intelligence (AI) in new ways to accelerate
our innovation pipeline. Building off existing product
platforms, we launched innovation across our major
brands.   e also achieved our 2025 goal of knowing
2
    Reimagine Work:   e successfully completed
PURPOSE-DRIVEN GROWTH
Our purpose     to champion people to be well and thrive
every single day     guides everything we do. This starts
with our teammates, who are critical to Clorox   s success.
Ensuring teammates are compensated fairly, regardless
of race, ethnicity or gender, is central to creating an
equitable work environment, and we again achieved our
pay equity goal. As part of our unwavering commitment
to safety, we further advanced our already world-class
safety performance by improving the recordable incident
rate in our manufacturing facilities by 14.5% to 0.47,
which is signi  cantly better than the industry average.

  e continue to embed our principles of inclusion,
diversity, equity and allyship, what we call IDEA,
across our business to create more inclusive brands,
performance and talent programs, and global
development and leadership training. In support of
our IDEA aspirations, we have rolled out actionable,
enterprise-wide allyship programs so every teammate
can play a role in shaping this culture. Additionally, we
continued to increase our spend with diverse suppliers.
Creating a workplace where people can be their
best selves deepens consumer empathy, stimulates
innovation, helps make Clorox a stronger company
and accelerates our IGNITE journey.
Looking ahead, we see an environment where
consumers continue to seek value and superior
experiences amid ongoing uncertainty in the world
around them.
  e created our IGNITE strategy to meet those needs.
That   s why we   re focused on delivering superior value
through brands that consumers love and trust.   e are
innovating with clear intent.   e are creating a more
consumer-obsessed, faster and leaner organization. And
we are reinvesting in our business to accelerate growth
Fully integrating environmental, social and governance
(ESG) goals into our strategy is fundamental to how we
drive growth, mitigate risk and create positive value for
our brands.   e remain committed to being in the top
third of ESG industry leaders and continue to support
our goals for scopes 1 and 2 emissions reductions and
100% renewable electricity in the U.S. and Canada. More
than half of our facilities and almost 80% of our plants
have attained zero-waste-to-land  ll status, and this
year we added two more manufacturing sites to the
list, both in Saudi Arabia.   e also continued delivering
on our commitment to reduce the chemical footprint
of our domestic cleaning portfolio.   e are proud to
be recognized, once again, as a U.S. Environmental
Protection Agency Safer Choice Partner of the Year and
by Barron   s as the most sustainable company in the U.S.
for a second consecutive year.
ACCELERATING GROWTH AND
TRANSFORMATION FOR OUR FUTURE
and transform for the future.
  e have been purposeful and balanced in our actions,
leaning on IGNITE to execute through every challenge.
Led by our values of doing the right thing, putting people
at the center and playing to win, we are taking the right
steps to navigate the near term and stay true to our goal
of being a stronger and more resilient company     one
poised to deliver more consistent, pro  table growth and
enhance long-term shareholder value.
I would like to thank my Clorox teammates for their
contributions and dedication to our business throughout
the year, and for their courage and commitment to the
road ahead.
Thank you for your continued support and
interest in Clorox.
Linda Rendle
Chair and Chief Executive Of  cer
L
Led
by our values of doing the right thing, putting
people at the center and playing to win, we are
p
ttaking the right steps to navigate the near term
and stay true to our goal of being a stronger and
a
more resilient company.   
m
CLOROX 2024 Integrated Annual Report Executive Summary
3



 10/4/2024 Letter Continued (Full PDF)