Clorox

Household and cleaning categories are everyday needs with recurring, recession‑resistant demand and multi‑channel distribution. Revenue volatility in 2023 stemmed from a cyberattack; by FY2025 operations normalized and the company reported stable sales and strong cash flow.

FY2026 is temporarily affected by ERP shipment timing and increased advertising, but management reaffirmed the outlook and indicated the majority of the rollout is complete. The portfolio is largely U.S.-centric, reducing geopolitical risk, and the company has exited the more volatile Better Health VMS and Argentina businesses, simplifying the mix.

We do note periodic recall and quality risks (e.g., the 2022 Pine‑Sol recall) and retailer inventory dynamics can create quarter‑to‑quarter noise, but the long‑term demand curve remains steady.