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THE CLOROX COMPANY Clorox Reports Q1 Fiscal Year 2022 Results , Confirms Outlook 11/1/2021 OAKLAND , Calif . , Nov. 1 , 2021 / PRNewswire / -- The Clorox Company ( NYSE : CLX ) today reported results for the first quarter of fiscal year 2022 , which ended on Sept. 30 , 2021 . First - Quarter Fiscal 2022 Summary Following is a summary of key first - quarter results . All comparisons are with the first quarter of fiscal year 2021 unless otherwise stated . • Net sales declined 6 % to $ 1.8 billion in comparison to a 27 % increase in the year - ago quarter , or an increase of 21 % on a two - year stack basis . The decline in net sales reflects a 2 - point decline in volume , 3 points of unfavorable price mix and 1 point of unfavorable foreign exchange . Organic sales1 for the quarter declined 5 % . • Gross margin decreased 1090 basis points to 37 % from 48 % in the year - ago quarter driven primarily by higher commodity , manufacturing and logistics costs . • Diluted net earnings per share ( diluted EPS ) declined 65 % to $ 1.14 from $ 3.22 in the year - ago quarter , primarily driven by lower gross margin , lower net sales and a one - time , noncash remeasurement gain in the year - ago quarter related to the company's investment in the Kingdom of Saudi Arabia joint venture . Adjusted EPS 2 declined 54 % to $ 1.21 and excludes 7 cents related to investments in the company's long - term strategic digital capabilities and productivity enhancements . Net cash provided by operations for the first quarter declined 89 % to $ 41 million , compared to $ 383 million in the year - ago quarter . ● ● " We're off to a solid start in fiscal year 2022 and saw stronger - than - anticipated demand across our portfolio , despite a challenging operating environment . We made meaningful progress on restoring supply - which contributed to holding or gaining market share in the vast majority of our businesses and we're pulling multiple levers to manage through this inflationary period . This includes pricing actions and stepping up our cost reduction 1