The Clorox Company

Good day, ladies and gentlemen, and welcome to the Clorox Company third quarter fiscal year 2022 earnings release conference call. At this time, all participants are in the listen-only mode. At the conclusion of our prepared remarks, we will conduct a question and answer session. If you would like to ask a question, you may press star 1 on your touchtone pad at any time. If you should require any operator assistance during the conference, please press star zero on your touchtone pad at any time. As a reminder, this call is being recorded. I would now like to introduce your host for today's conference call, Ms. Lisa Burhan, Vice President of Investor Relations for the Clorox Company. Ms. Burhan, you may begin your conference.

Thank you, Erica. Good afternoon, and thank you for joining us. On the call with me today are Linda Rendell, our CEO, and Kevin Jacobson, our 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, including about our fiscal year 2022 outlook and the potential impact of COVID-19 pandemic on our business. These statements are based on management's current expectations but may differ from actual results or outcomes. In addition, we may refer to certain non-GAAP financial measures. Please refer to the forward-looking statements section, which identifies various factors that could affect such forward-looking statements, and the non-GAAP financial information section, including the tables that reconcile non-GAAP financial measures to the most directly comparable GAAP measures, both of which are located at the end of today's earnings release, which has also been filed with the SEC. Now, I'll turn it over to Linda.

Hello, everyone. Thank you for joining us. I hope you and your families are well. Hopefully, you found our prepared remarks helpful. I'm encouraged that we continue to see strong consumer demand for our brands and made progress on our near-term and long-term strategic plans in the third quarter amid a highly dynamic and challenging environment. Importantly, we delivered on our commitment to drive sequential gross margin improvement. We executed well on the factors under our control, leveraging the strength of our brands to grow share, sustain top line momentum, and begin to rebuild margin. We continue to drive our innovation pipeline, deliver cost savings, generate operational improvements across our supply chain, and take additional inflation driven pricing actions, all while keeping our eye on the long term. There's no question that it's a volatile operating environment. The rising cost inflation we are experiencing is reflected in our updated fiscal 2022 outlook. That considered, I'm confident that our fundamentals are strong, and that the actions we are taking and the progress we have made put us on the right trajectory to drive long-term profitable growth and create shareholder value. With that, Kevin and I will open the line for questions.