CLX News & Events

The U.S. Consumer Product Safety Commission said Clorox has agreed to pay a $14.15M civil penalty. The settlement resolves CPSC's charges that Clorox knowingly failed to immediately report to CPSC, as required by law, that its Pine-Sol Scented Multi-Surface Cleaning Products "contained a defect that could create a substantial product hazard or created an unreasonable risk of serious injury or death to consumers."

In Conference Call accompanying Gojo Industries deal, CFO Luc Bellet says: "Our debt leverage will increase to 3.6x. And we are confident that we can take this down to 2.5x by the end of calendar year 2027. And so I think given the combination of Clorox and actually GOJO's strong cash flows as well as we have the benefit of anticipated tax benefits in the first 2 years that will be fairly material, that will help us repay some of the debt, and we're confident that we will reach our target leverage ratios while being able to continue to support the dividends. So I would say near term, like balance sheet discipline and deleveraging as well as supporting dividend is really our priority, and I will take priority over share repurchase. So we do not expect to make any share repurchase until we reach our targeted debt-to-EBITDA ratio."