With a combined revenue of $21 trillion and $2.1 trillion in profits, the 2026 Fortune 500 is the definitive list of America's largest companies.

Fortune 500

Almost $20 trillion in revenue—and a record-breaking $1.87 trillion in profits. Introducing the 2025 Fortune 500, the definitive list of the biggest companies in America.

Industries included in the sector are home equipment and furnishings and household and personal products.

Fortune Sector Leaders: Household Products

The Fortune 500, in its 70th year in 2024, ranks the biggest U.S. companies by revenue.

The 200 companies on this list are transforming industries from the inside out.

America's Most Innovative Companies

The Fortune 500, in its 69th year in 2023, ranks the biggest U.S. companies by revenue.

This year’s Fortune 500 marks the 68th running of the list.

This year’s Fortune 500 marks the 67th running of the list.

F500-2021-427-Clorox

The COVID-19 pandemic brought Clorox front and center as consumers scoured shelves for cleaning items. Double-digit percentage growth demand for products across all segments netted the company $939 million in profit in fiscal 2020, a 14.5% increase from 2019, and the company went up 47 spots on the list this year.

This year's Fortune 500 marks the 66th running of the list.

F500-2020-474-Clorox

Clorox sells its namesake bleach as well as a number of household-goods brands, including Kingsford Charcoal, Pine-sol, Glad bags, Brita water filters, and Burt’s Bees care products. The company's cleaning products have been in exceptionally high demand due to the coronavirus pandemic.

This year's Fortune 500 marks the 65th running of the list.

This year's Fortune 500 marks the 64th running of the list.

This year's Fortune 500 marks the 63rd running of the list.

This year's Fortune 500 marks the 62nd running of the list.

This year's Fortune 500 marks the 61st running of the list. Wal-Mart claims the top spot again. See who made the list.

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Q3 2025

Q2 2025

Get insights into Clorox including business profile, stock information, news, and rankings from Fortune.

Clorox (CLX): Company Profile, Stock Price, News, Rankings

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Clorox

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Good day, ladies and gentlemen, and welcome to The Clorox Company Second Quarter Fiscal Year 2025 Earnings Release Conference Call. At this time, all participants are in a listen only mode. At the conclusion of our prepared remarks, we will conduct a question and answer session. As a reminder, this call is being recorded. I would now like to introduce your host for today's conference call, Ms.

Lisa Berhan, Vice President of Investor Relations for The Clorox Company. Ms. Burhan, you may begin your conference.

Thanks, Jen. Good afternoon and thank you for joining us. Joining me today are Linda Randle, our Chair and CEO Kevin Jacobsen, our CFO and Luc Bellet, our Treasurer and incoming 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 that are based on management's current expectations, but may differ from actual results or outcome. In addition, these remarks may differ from certain non GAAP financial measures. Please refer to our earnings release, which identifies various factors that could affect forward looking statements and provides information that reconciles non GAAP financial measures to the most directly comparable GAAP measures. The Risk Factors section of the company's Form 10 ks also includes further discussion of forward looking statements. Now I'll turn it over to Linda.

Thank you for joining us today. Before we start the Q and A, I think you all know that we announced a CFO transition last week. I want to take a moment to thank Kevin for his nearly 30 years with Clorox. He has been an essential change agent to our Ignite strategy in transforming our company. I deeply appreciate his partnership, leadership and countless contributions to Clorox and I wish him the very best in his retirement later this year.

I also want to welcome Luc Belay as he steps into the role of CFO starting on April 1st. Luc is a strong and experienced leader who I've worked with in many roles over my career at Clorox and I'm confident he'll build on the strong foundation established by Kevin. With that, Kevin and Luke will take your questions.

Thank you. At this time, we will conduct a question and answer session. And our first question today will come from Andrea Teixeira with JPMorgan. And Ms. Teixeira, your line is open.

Andrea, if you're speaking, we cannot hear you. Jen, let's move on to the next Q and A person and then we'll come back to Andrea.

Thank you. Our next question will come from Dara Mohsenian with Morgan Stanley.

So congrats to Kevin and Luke. Maybe first, was just hoping to give your perspective on your ability to continue to drive gross margin expansion beyond fiscal 2025, your forecast to get back near peak levels based on your guidance. How confident are you in continued expansion over time, A, and then B, what are the longer term drivers? And then maybe I'll come back with one other.

Yes, Dara, let me start there on gross margin expansion as we look forward. As we've talked, Linda and I, for quite a while, our first priority has been to fully rebuild gross margins back to 44%. And as I'm sure you saw in our prepared remarks, we feel very confident in our ability to do that this year. And what we really want to get back to is then building EBIT margins in that 25 to 50 basis points per year going forward. And your question was how confident we feel about that.

I feel very good sitting here today about our ability to continue to do that. And there's a number of drivers. I mean, as we've talked quite a bit and I'll talk about EBIT margin maybe a little bit more than gross margin, but it certainly benefits both. We're going to continue to drive productivity. We've got the next important phase in our transformation with our ERP conversion at the start of next year.

That's certainly been an opportunity to drive even more productivity across the organization. So I feel good about the contribution there. And then as we've talked, we've really expanded our historical cost savings, what we're calling more margin transformation, which means a lot more focus on design to value, a lot more focus on net revenue management. These are all additional tools in our toolbox that we're going to use to continue to expand margin. As we talk about that really gives us a fuel either to take to the bottom line or reinvest in the business.

But without giving an outlook for next year, I feel pretty confident sitting here today about our ability to start on that 25 to 50 bps starting in fiscal year 2026 and then our intention is to continue that going forward.

Great. That's helpful. And maybe switching gears, Linda, on the Glad JV change, why did this happen now? But with this change and the strength in financial profile in recent quarters, maybe you can just talk about if M and A is expected to be a more important piece of the strategy going forward and what some of the areas of opportunity you see in potentially filling in white spaces in your portfolio? Thanks.

Sure. We're excited to assume full control of our Glad business coming up a year from now. And really the timing is related to the end of our agreements. And both parties mutually agreed not to renew. And we think this is the right time for us given the transformation that's well underway of our company, our confidence in our ability to drive innovation through our enhanced capabilities across the company and the fact that we retain the very important IP that we've worked jointly with Proctor on for a number of years that sets the foundation for that.

So this is the right time given the contract expiring, both parties came to this conclusion and we feel fully confident in our ability to continue to drive value in this business moving forward. Then to the question on M and A, no change there in terms of we're always looking for business opportunities that can be accretive to our portfolio. We're going to do deals though that are right for our shareholders and that we think will offer a strong return. We continue to evaluate our portfolio with our Board as you would expect us to on an annual basis. So no change to our priorities or uses of cash.

And certainly, having full control of this business is a great thing for us moving forward, and we're excited to have it a year

And our next question today will come from Peter Grom with UBS.

Thank you, operator. Good afternoon, everyone. Congrats, Kevin. Congrats, Luke. So I was hoping to just get some perspective on the organic sales outlook from here.

And I know there are a lot of moving pieces. But just given the wide range of 4% to 7%, it seems like there's a lot of variability in terms of how you exit the year after backing out the ERP shipment benefit. Can you maybe just speak to what you're embedding in the outlook for 4Q after backing out this benefit? And how should we be thinking about that exit rate as it pertains to fiscal 20 26? Thanks.

Yes, Peter, happy to answer that. And I think it might be helpful to talk about Q3 a little different than Q4 because they're going to look different in terms of how they play out. Let me just start with Q3 and you may have seen this in our prepared remarks. We expect from a reported sales perspective, we'll be down mid single digits. That's going to have about 5 to 6 points of impact related to our divestitures of Argentina and VMS.

And then we've had about 1 point of FX headwinds. Now keep in mind, we started the year not expecting the FX headwinds, but as we've seen the dollar continue to strengthen in other new administration, we've got a point headwind loaded in the back half of the year, including Q3. And as a result of that, you get to organic sales growth, I'd say, in low single digits for Q3. But also keep in mind, that includes the impact. We pulled forward some new distribution we secured at a major retailer on our Kingsford business, that the retailer placed the order in December, we fulfilled in December, but we essentially shifted out of consumption.

That will be consumed in Q3 as they do some early season merch support around the Super Bowl. So that had not shifted and we had shipped close to consumption in Q3. I'd expect this to be somewhere around 2% to 4%. But since we pulled that forward, I think we'll be around low single digits for Q3. And then Q4, to your very good point, it's going to be noisy.

While we said the ERP transition will add 1 to 2 points of growth over the course of the year, it's all going to happen in Q4. So as a result, I expect organic sales growth in the Q4 to be somewhere between mid and high single digits. That's a combination of continued growth in the base business and then the impact of this temporary transition where we see increased sales this year and then that will reverse out in the front half of next year.

Got it. That's super helpful. And then not to get too technical, but just on the earnings guidance, when you back out the benefit from the ERP, it seems like that the guidance raise is entirely that, but you also lowered your tax rate outlook. So has anything changed from an underlying basis that's offsetting the benefit from a tax rate standpoint?

Yes. There's a few puts and takes in the plan. So to your good point, if you set aside the ERP benefit, you just talked about our base business before ERP. I would highlight 2 benefits we've seen versus when we talked last quarter. The first is the tax benefit you highlighted, which is about $0.07 in the quarter.

And then you may have seen, we have modestly reduced our supply chain inflation expectation for the year. So we're going to look a little bit of benefit there. And then the flip side of that is we've added about 1 point of FX headwinds in the back half of the year and we've added a little bit more trade spending as we're seeing some increased competitive activity in the bags and wraps category. And so I described that as a number of puts and takes, but it very much keeps us on track for the year. And as you saw, we just brought up the low end of our outlook before we put on top of that the impact of the ERP transition.

And our next question will come from Filippo Falerni with Citi.

Hey, good afternoon, everyone, and congrats Kevin and Luke. First, just a quick clarification. On the Q2 organic sales, the beat relative to your guidance, was that entirely driven by the Kingsford shipment or any size of the benefit from the Kingsford shipment?

Yes. Hey, Filippo. I would say it's a combination. So as you know, we thought our sales on organic basis would be down in the low teens and we were down about 9.5%. I'd say if I separate the Kingsford item, a lot of that was based on as we came into this year, we expected the consumer to be under pressure and category growth would slow to somewhere between flat and 1%.

Through at least the front half of the year, we've been operating at the higher end of that range and that was true for Q2 as well. And then we continue to make very good progress on our share growth. We had another point of share. So we're seeing good strong results from our demand creation plans. That was a primary driver.

And then shifting Kingsford, shipping in front of consumption in Q2 that was worth a little less than 1.25. So it certainly contributed to the over delivery in Q2, but it was not the primary driver. That was really the strength of the business was a primary driver.

Got it. That's super helpful. And then, bigger picture, the call out that you made in the release, Linda, about Leader and GLAD, is this increasing promotional activity more than what you were expecting? Like does it require incremental spending from you guys in the back half? I think, Kevin, you alluded to it in the gross margin question.

But any thoughts on like how competitive the category can get from here and your potential actions there? Thank you.

Yes. Thanks, Filippo. Maybe just take a broader comment on our categories and what we're seeing. And I think you saw in the release that largely our expectations around what we expected for the categories are playing out. And that also plays true for what we're seeing from competitive activity.

And I would include litter in that. So we expected litter to be more competitive and it's in line with our expectations. So certainly, promotion is up. It's up for us as well, but it's in line with what we expected. Glass is a little bit different where we are seeing more competitive activity than we originally anticipated.

Now if you put that in perspective, this is not this has been true over Bags and Wraps for a number of years, and it's something we feel really well equipped to deal with. We grew share in Glad Trash in Q2 despite all of this, but we are seeing some more deep discounting from a price promotion perspective and just more dollars in from our branded competitor than we had expected. We have reacted and we have addressed that and that is included in the outlook that we provided. And again, we feel really well equipped to deal with this. Our innovation is resonating.

We're growing share. But we know the long term way to grow the Bags and Wrapped category is not through de discounting and price promotion. We want to make sure we're driving that through trading up consumers, etcetera, and we're going to stay focused on that. But in the short term, we will absolutely react to competitive pressures we have, and again, we've accounted for that. So I think that the high level takeaway is mostly in line with our expectations, and the only exception to that would be the trash category we're seeing increased competitive promotions, and we're handling it.

Our next question will come from Anna O'Zoole with Bank of America.

Hi, good afternoon. Thank you so much for the question. Congratulations also to Kevin and Luke. You mentioned in the prepared remarks that consumers continue to be choicel in their spending and their shopping behavior. Just wondering if you could talk about the dynamics that you're seeing more specifically on sales across different retailers and different channels and also purchasing behavior such as buying in larger versus smaller quantities?

And then just a follow-up on the prior discussion here with Litter and Glad across those categories. Just to clarify, it sounds like you're continuing to use promotion as a primary means of gaining back market share here. Is that expected for the rest of the year? Thank you.

Why don't I stick on the Litter Glad for a moment just to clarify that. So we are certainly returning to a promotional environment that's more normalized returning to that environment we saw pre COVID and that was our expectation for both Glad and Litter. But those are highly competitive categories and we are seeing temporarily litter higher than that. And right now we are seeing Glad a bit above that as well. But I would not say that that's the only way we are driving the category.

It's just a suite or part of a suite of tools that we are using primarily focused on ensuring that we're getting the right value messaging to consumers on the benefit that our products offer and the category offers. So for things like our Gladwyft lineup, we offer a stronger bag, we offer a better scent, We control odor. So we're really focusing on those value added levers that we have in the trash bag to ensure that we get consumers to buy those as well as innovation and Glad's been a category driven by innovation for a number of years and we're continuing to do that and we're seeing all of our innovation really resonating with consumers. Bahama Bliss is a great example of that and it was off to a fast start and we'll be building on that platform coming up here in the back half. So no, promotion plays an important role in the category, but it is not the main driver and we would see over the long term it will continue to play the role that it always has a way to drive traffic, a way to ensure that we're introducing innovation and making sure that consumers are reminded of the great value that Glad has.

And then getting to just what we're seeing from the consumer. Overall, I would say the consumer environment has largely been steady and in line with our expectations. Consumers are continuing to exhibit value seeking behavior and that shows up in a number of ways. And I think 1st and foremost, I want to reemphasize that it shows up that they are looking for better and enhanced value in the products, which means they are trading up to innovation, which is working really well for us even though it might be a trade up on a price per use basis, but we're seeing that across our categories. They want us to make their lives easier and they're willing to pay for an innovation.

We're also seeing it as they trade up to both larger sizes to get the very best cost per use and smaller sizes for those consumers who may not be able to have that single outlay of cash depending on where they are in their pay cycles. We continue to see all of those behaviors. What we're not seeing is any material change in private label. So private label shares were down this quarter. They're off their peak of when we were out of stock due to the cyber issue.

And we're not seeing any material change. And in fact, if you look at the 3 categories where we compete most heavily with private label, they're down in share across all three of those, that being in trash, in bleach in our Kingsford business. So I think it's pretty steady. Our categories are certainly a little bit depressed given the environment, but we feel great about our brand's ability to compete in that. And I just emphasize, we continue to invest strongly in our brands.

We increased our percent of sales against advertising and sales promotion this year and we did that intentionally to remind them of the value. We continue to invest in innovations working really well. And if you look at the outcomes of that, we grew share in 7 of our 8 categories. We're growing household penetration and our consumer value metric is stronger than ever. So I feel great about the position that we're in.

Thanks, Anna. Our next question will come from Kamil Gajrawala with Jefferies.

Hey, everybody. Can you maybe just give some more details on this 1% to 2% from turning ERP on? Just I just don't I guess I don't understand how it works from a practical perspective. Is it a shift in inventory one direction or the other in just one time? Or is it something ongoing because there's data and information you seem to be able to see that you think can drive slightly faster growth?

Thanks Camille. Maybe just a couple of sentences and then I'll actually turn it over to Luke who has been a key leader for us in our digital transformation and is very close to the details on this. Broadly, of course, this ERP transition is a very important step in our digital transformation, continuing to ensure that we have data and can move at the right speed with the right capabilities to enable the growth and productivity that we're driving. Really excited about this step. And what you're going to hear from Luke is, there is noise as volume moves between quarters years as we deal with this.

But Luke, why don't you go ahead and outline how we think about this and an ERP transition works in terms of retailers and our own planning?

Yes. Sure. Sounds good, Linda. Well, as a reminder, at the beginning of the year, we implemented our new ERP in Canada, which was our test market. The launch went very well.

We did not experience any material disruption. But as you can imagine, the team has been taking a lot of the learnings from this Canadian implementation and building them into our implementation plan for the U. S. Now in July, we're going to go live with our new ERP solution for the U. S.

Business operations. That includes all of the other management and fulfillment activities for the entire business operations. And we're also going to begin transition some of manufacturing locations. The plan is to transition all of U. S.

Location in a phased approach over a period of 6 months starting in July. So to prepare for this transition, we're working closely with our U. S. Retail partners, and we're in process of finalizing plans. But we're going to we're planning on shipping ahead of consumption in Q4.

And we'll build retail inventory levels and make sure that we maintain the product on the shelf while we're going through the transitions. In addition, we're also going to build our own inventory to be fully prepared during the transition. So it's really the inventory build in Q4, both with the retailers and within the company that is going to reverse in the front half of the fiscal year. And obviously, that creates some noise and some timing impact between the fiscal year. And this is what we're reflecting in the outlook.

Got it. Well, Luc, I didn't intend to give you such a softball for your first question, but good answer. Congratulations to you and to Kevin as well. Thanks, guys. Appreciate it.

And we'll move next to Bonnie Herzog with Goldman Sachs.

All right. Thank you. And congrats to both Luke and Kevin. And Luke, if I may just clarify everything that you mentioned. I just I definitely want to understand what you're doing with the retailers.

Is it to avoid any potential risk that they can't get the product that they need? Is there some concern on your side just given the transition that you want to ship ahead of consumption? Or are they just trying to build inventories worried about not being able to get enough product? I guess I'm asking because thinking about the continued volatility in your business, I mean, I just feel like now, unfortunately, there will be a lot of noise in the next few quarters. So trying to think through that.

Yes, Bonnie, I'm going to jump in on this one. This is a very standard way that manufacturers go through an ERP transition. There's a period of time where we have to shut our systems down, we have to turn on the next system and so we you would see this about any business that ever does this. We tend to build up retailer inventories and our own to account for that period where the systems are actually physically transitioning. And we're well within the normal range of what any manufacturer has done.

Obviously, we've done a lot of benchmarking. And given we're one of the later people to transition on this ERP, we have a lot of learnings from our peers. So just reemphasizing what Luke said, this is really just a timing issue. This is just a standard procedure that everyone uses to ensure there is no disruption given the shutdown of one system and the bringing up of another. And for us, this is just noise between quarters years.

Obviously, we want to execute the transition with excellence. But really, as we see it from a consumer perspective, our goal is to have zero impact to the consumer and this is how we manage it behind the scenes.

Okay. That's definitely helpful. I appreciate that and respect that because you're right, you don't want any volatility for the consumer. And then if I just may ask, another question is on tariffs, which are incredibly topical right now, recognizing that things keep changing. But could you talk about your sourcing exposure from some of the impacted regions?

I guess, which part of your business do you see the most potential impact? And then how are you planning to mitigate any potential impact? And also want to just verify, is this being considered or any potential tariffs being considered in your guidance? Thank you.

Sure. Hey, Bonnie, it's Kevin. As you can imagine, we've been evaluating this for several months now because this has certainly been topical for the last several months. And to your question, this is not in our outlook specifically. We have not baked anything in.

Now we have a range, but we have not specifically baked in any impact from tariffs. What I might remind you and I think we've talked about this in the past is based on the nature of our portfolio for the most part we manufacture product very close to where it's consumed. So we have fairly short supply chains. The other benefit for us is you might recall several years ago during all the supply chain disruptions, we've done quite a bit of work over the last few years to onshore nearshore production. Now at the time we did that work is really to reduce the risk of our supply chain, but there will be an added benefit here that it reduces our exposure to tariffs.

And so the team has been working on this. We've already taken a number of actions to minimize tariffs. The team is going to continue to work to do that. As you know, this is a very dynamic environment, certainly even over the last 72 hours. So our exposure, I'd say, is certainly less than you'd find at many other industries or other companies just based on the nature of our portfolio.

And we will continue to work to minimize it. But right now, it's a little difficult to know exactly what the impact is because it's changing so dynamically. But feel like we're in good shape this year to manage through it.

Our next question will come from Chris Carey with Wells Fargo.

I want to ask 2 connected questions on sales. I think number 1 is maybe it's a little bit what Peter was getting at or trying to. The organic sales outlook for low single digits in fiscal Q3, okay, Q4, the low single inclusive of Kingsford. And that would be sort of the lower end of where you would want to be from a longer term perspective, right, from a longer term top line target. But when I also look at the consumption data, it's running flattish, right?

And obviously, there's non tracked channels that are growing faster and the like. But I think there is because there's been so much noise and so much inventory shifting, how do you view that low single digits from a clean perspective? Are you still recapturing distribution points? Or do you view that as a clean underlying number that you would extrapolate going forward? Like are you executing right now at your longer term algorithm?

Or are categories a bit more muted right now as some of your peers have said and you're not, right? And I think this gets to the kind of exit rate that you could be at going into fiscal 2026 because obviously we'll have to overlay the negative impact of ERP in fiscal 2026. But as the underlying run rate, we're going to have to make an assumption, right? So it's all kind of connected to that. The second thing would be from a category perspective, can you just talk about how you feel about trends in your cleaning business relative to your household business?

Because again, I think the consumption data has been a bit weaker in cleaning, a bit stronger in household, but you're seeing increased promotional activity in Glad. And maybe just comment on how you see these two businesses. So thanks so much for that. Sorry, that was a lot.

Sure, Chris. I think I got it. But remind me if I don't get to something in your question by the time I get to the end

would be helpful on just how we think about getting back to algorithm, set the stage and then we can talk about specifically what's going on in Q3, etcetera. But I think it's helpful to recall 2 things we talked about going into this year. The first that we spoke about was there was going to be noise between quarters given the lap that we had recovering from cyber, etcetera. And you're certainly seeing that play out, obviously, in between Q1 and Q2 and even there's still noise in Q3 and Q4 that we spoke about. And then you have small things that happen like Kingsford where retailers shipped something early.

So that's one, it's playing out and but no large changes to that assumption. The second thing that we spoke about was that we expected a more difficult macro environment and we saw that playing out in lower category growth rates than we would normally see. So normally we see low single digits 2%, 2.5% and we expected to see low low single digits and we said about 0 to 1. The good news is that's playing out with what our expectations are, but what we would expect to see over the long term is getting back to those category growth rates that look more like we've experienced for many, many years. And I think the question mark will be for us when that happens.

And certainly, we're seeing that across the industry. But that's really a big question. If we think about what we control, in addition to those categories and feeling really good about where we sit right now. And that means that I feel really good about our long term algorithm of 3% to 5% growth. And just how we think about it is you get back to that 2%, 2.5% category growth.

We continue to drive share, which we certainly demonstrated over the last two quarters that we're able to do. You expect benefits from things like NRM and pricing as well as the work that we are doing on our digital transformation and how that flows through in both growth and productivity. And then of course, we have our professional business and our international business that we expect both to be delivering above company average growth rates and we certainly saw that again this quarter. So we remain confident in the long term algorithm. I think the question mark is when will the macro environment improve, when will we see our categories return to that more normalized growth rate, and we're doing everything feasible in our power to continue to do that through innovation, through investing in our and good category growth ideas as well as growing share.

But that's the open question mark and I think we all can agree the environment is certainly uncertain and volatile enough to say it's not exactly easy to post when that transition will happen. I think maybe when you talk about specific categories and you talk about household cleaning, actually cleaning is doing incredibly well right now. If you look at the consumption trends on that business and share results, we've consistently posted share growth results in that category. In fact, our share results are higher than they were 2 years ago. So it's like the cyber attack never happened.

We're winning in most of those segments in cleaning and the trends look good and our business is still bigger than it was pre COVID from a volume perspective even after all the pricing that we took to deal with inflation. So I feel like our business in cleaning is performing just as we want it to be, growing share, growing categories the right way. Innovation is really resonating with consumers, whether that be innovation like Scentiva, where we've reinvigorated that platform and invested more money in or brand new innovation that we have in those categories. So feel terrific about that, as well as terrific about a number of our household businesses as well. But cleaning is a real gem right now.

And cleaning is also playing into our strong international results. And you saw the organic growth rates for international this quarter very strong again. And of course, cleaning is the majority of our international business and helping that to perform.

There's a lot there. I appreciate you entertaining that. Thanks.

Our next question will come from Olivia Tong with Raymond James Financial.

Great. Thanks. And congrats, Kevin and Luke. First, just on litter, whether you could talk about the level of promotion you have embedded into the second half outlook versus what you did in first half, similarly on advertising? And just broadly, the level of flexibility that you have built into your promotional plans in case any other competitive battles grow up like what's happening for Glad?

And then coughcold season, we've seen some flu data that suggested a sort of slower start to the season. Seems like it's picked up since then. So if you could give any color on that, that would be helpful insofar as how it helps or hurt your cleaning and disinfecting business? Thank you.

Clorox (CLX) Q2 2025 Earnings Call Transcript

Company Participants