OAKLAND, Calif. , Aug. 14, 2024 /PRNewswire/ -- The Clorox Company (NYSE: CLX) today announced that Chair and Chief Executive Officer Linda Rendle and Chief Financial Officer Kevin Jacobsen will participate in a fireside chat at the Barclays Global Consumer Staples Conference on Wednesday, September 4, 2024, in Boston.

Many people believe a recession is looming as macro indicators flash red across the board. The Sahm Rule was recently activated.

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Clorox EcoClean Disinfecting Wipes expands the Clorox EcoClean product portfolio of Design for the Environment (DfE) and Safer Choice-certified, ready-to-use cleaners and disinfectants, to provide cleaning professionals more eco-conscious alternatives that work as well as traditional cleaners. OAKLAND, Calif.

It is safe to say that 2024 has been a disappointing year for those who invested in consumer staple stocks. The widely feared and talked about recession has not arrived, and so far the Fed has not made any rate cuts this year despite high anticipation.

Leading consumer products company Clorox Co. NYSE: CLX stock surged 7.4% on a strong fiscal Q4 2024 earnings performance. The maker of personal care, cleaning, and kitchen products has been in negative normalization since its anomalous pandemic surge, peaking its shares at $239.87 in August 2020.

Stock markets cratered on the rise of interest rates in Japan. Adding insult to injury, Barclays cut price targets on Clorox, Twilio, and Atlassian this morning.

Clorox (CLX) shares jumped Friday to become the top performer in the S&P 500 after the company known for its namesake bleach and disinfectants reported better-than-expected quarterly profits the day before. Expanding gross margins and cost-reduction efforts helped the provider of consumer and professional products achieve 9% bottom-line growth from the year-ago period.

During its most recent quarter, Clorox Co.'s sales were hurt by more competition for things like trash bags and cat litter. In the household-goods maker's earnings release on Thursday, executives blamed unfriendly weather for weaker grilling-product sales.

Clorox's sales were down in its fiscal 2024, and it expects a possible decline in the coming year as well. Even with profits trending in the right direction, the stock trades at a premium valuation compared to its forward estimates.