Chair and CEO Linda Rendle on Q2 FY25 performance and outlook
By Linda Rendle, Chair and Chief Executive Officer
We just reported our second quarter financial results, and we delivered better-than-expected sales, margin and EPS results while continuing to make progress against our strategy for long-term value creation.
These results underscore the ongoing strength and resilience of our portfolio of trusted brands in essential categories. During a time when consumers need it most, we continue to focus on delivering superior value and experiences. Through the strength of our demand generation activities, we grew share in the majority of our businesses for the second straight quarter.
We also delivered our ninth consecutive quarter of gross margin expansion, which enables us to fuel growth and keep reinvesting in our brands, in our innovation pipeline and in our business. We remain on track to fully restore our margins to pre-pandemic levels this fiscal year.
In addition to our strong financial and marketplace performance, we are making good progress against our transformation strategy as we embark upon a significant milestone with our enterprise resource planning transition in the U.S. early next fiscal year. This is an important step in building a more strategic and integrated environment across business functions while improving our agility, efficiency and ability to grow over the long term. To account for the timing impacts of this implementation, we are updating our outlook.
We also announced that Clorox and P&G have jointly decided to wind down the Glad bags and wraps joint venture. It will end on Jan. 31, 2026, and Clorox intends to acquire P&G’s 20% interest in the venture at its termination. With full control of the Glad business, we are confident we will fully leverage our streamlined operating model and all our enterprise capabilities to continue delivering strong innovation and superior value.
Looking ahead, our operating environment remains challenging. Nonetheless, we are confident we have the right plans in place to deliver strong financial performance in fiscal year 2025.
Thank you to all our Clorox teammates around the world for another strong quarter and for your unwavering passion to deliver for our stakeholders.