Clorox Company (The)

Good day, ladies and gentlemen, and welcome to the Clorox Company first quarter fiscal year 2022 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. If you would like to ask a question, you may press star 1 on your touchtone pad at any time. If anyone should require assistance during the conference, please press star 0 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.

Thank you, Michelle. Good afternoon and thank you for joining us. On the call today with me 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 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 also has 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 in this new earnings format helpful. We're off to a solid start to fiscal 2022 with stronger than anticipated demand across our portfolio and focused execution in a challenging operating environment. We've made meaningful progress on our strategic priorities this quarter, including restoring supply across much of our portfolio, which has enabled us to hold or gain market share in the vast majority of our businesses. We are proactively addressing the inflationary and cost headwinds that are impacting our margins, through pricing and cost reduction initiatives. And at the same time, we're making important investments in our business to strengthen our competitive advantages and position the company for long-term success, including advancing our innovation pipeline, deploying our targeted advertising and sales promotion strategy, and investing in critical digital capabilities. Given our Q1 performance and the actions we are taking, we are reiterating our fiscal 22 outlook. With that, Kevin and I would like to open the line for questions.