Clorox Co. Q4 FY2023 results: revenue $2.0 billion, up 12.1% on the year

Clorox Co. (CLX) reported revenue of $2.0 billion for Q4 FY2023, the quarter ended 30 June 2023, up 12.1% on the same quarter a year earlier. Net income was $176 million, up 74.3% on the year, and diluted earnings per share $1.43. The figures are the company's own, from the 10-K it filed with the SEC on 10 August 2023.

Revenue$2.0 billionup 12.1%

Net income$176 millionup 74.3%

Diluted EPS$1.43

QuarterQ4 FY2023ended 30 June 2023

The quarter, against the one before and a year earlier

Line	Q4 FY2023	Quarter before	A year earlier	Change on the year
Revenue	2,019	n/a	n/a	n/a
Cost of revenue	1,157	n/a	n/a	n/a
Gross profit	862	n/a	n/a	n/a
Gross margin	42.7%	n/a	n/a
Research and development	38.0	n/a	n/a	n/a
Selling, general and administrative	329	n/a	n/a	n/a
Interest expense	21.0	n/a	n/a	n/a
Pre-tax income	237	n/a	n/a	n/a
Income tax	56.0	n/a	n/a	n/a
Effective tax rate	23.6%	n/a	n/a
Net income	176	n/a	n/a	n/a
Net margin	8.7%	n/a	n/a
Diluted EPS	$1.43	n/a	n/a	n/a

$ million except per share. Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q4 FY2023	Quarter before	A year earlier	Change on the year
Operating cash flow	430	n/a	n/a	n/a
Capital expenditure	84.0	n/a	n/a	n/a
Free cash flow	346	n/a	n/a	n/a
Free cash flow margin	17.1%	n/a	n/a
Depreciation and amortisation	62.0	n/a	n/a	n/a
Share-based compensation	13.0	n/a	n/a	n/a
Buybacks	0.0	n/a	n/a	n/a
Dividends paid	146	n/a	n/a	n/a
Diluted shares, weighted	124m	n/a	n/a	n/a
Shares outstanding at period end	124m	n/a	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q4 FY2023	Quarter before	A year earlier	Change on the year
Total assets	5,945	n/a	n/a	n/a
Cash and equivalents	367	n/a	n/a	n/a
Receivables	688	n/a	n/a	n/a
Inventory	696	n/a	n/a	n/a
Goodwill	1,252	n/a	n/a	n/a
Long-term debt	2,477	n/a	n/a	n/a
Operating lease liabilities	310	n/a	n/a	n/a
Finance lease liabilities	21.0	n/a	n/a	n/a
Shareholders' equity	220	n/a	n/a	n/a

Quarterly results, the last 12 quarters

	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	2,019	1,386	1,990	1,814	1,903	1,762	1,686	1,668	1,988	1,429	1,673	1,670
Cost of revenue	1,157	854	1,124	1,048	1,019	955	948	924	1,064	833	951	948
Gross profit	862	532	866	766	884	807	738	744	924	596	722	722
Gross margin	43%	38%	44%	42%	46%	46%	44%	45%	46%	42%	43%	43%
R&D	38.0	29.0	32.0	32.0	33.0	31.0	31.0	27.0	32.0	28.0	29.0	27.0
SG&A	329	276	322	301	268	281	280	267	296	277	262	229
Interest expense	21.0	21.0	26.0	22.0	21.0	21.0	22.0	23.0	22.0	23.0	25.0	27.0
Pre-tax income	237	29.0	136	-42.0	275	177	237	254	410	107	215	256
Tax rate	24%	14%	29%	n/a	20%	42%	18%	25%	18%	23%	25%	25%
Net income	176	22.0	93.0	-51.0	216	99.0	193	186	332	80.0	157	187
Net margin	9%	2%	5%	-3%	11%	6%	11%	11%	17%	6%	9%	11%
Diluted EPS	$1.43	$0.17	$0.75	-$0.41	$1.74	$0.80	$1.54	$1.50	$2.68	$0.65	$1.29	$1.54
Operating cash flow	430	20.0	153	182	340	221	180	286	294	93.0	311	-122
Capital expenditure	84.0	24.0	52.0	55.0	81.0	39.0	53.0	53.0	75.0	36.0	42.0	43.0
Free cash flow	346	-4.0	101	127	259	182	127	233	219	57.0	269	-165
Buybacks	0.0	0.0	0.0	0.0	0.0	107	150	0.0	75.0	129	127	0.0
Dividends paid	146	149	149	148	149	151	151	150	150	151	151	150
Shares outstanding	124m	124m	124m	124m	124m	124m	123m	123m	123m	122m	121m	121m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 30 June 2023, filed 10 August 2023, accession 0000021076-23-000037: the filing on EDGAR. All of Clorox Co.'s filings: EDGAR company page.

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