Solutions For RealSolutions For Real
  • Home
  • News
  • Personal Finance
    • Savings
    • Banking
    • Mortgage
    • Retirement
    • Taxes
    • Wealth
  • Make Money
  • Budgeting
  • Burrow
  • Investing
  • Credit Cards
  • Loans

Subscribe to Updates

Get the latest finance news and updates directly to your inbox.

Top News

Seven Important Points About Part D Drug Plans And Pharmacies

June 18, 2025

10 Money-Saving Summer Dates to Mark on Your Calendar Now

June 18, 2025

5 Steps to Apply for Social Security (and When to Do It)

June 18, 2025
Facebook Twitter Instagram
Trending
  • Seven Important Points About Part D Drug Plans And Pharmacies
  • 10 Money-Saving Summer Dates to Mark on Your Calendar Now
  • 5 Steps to Apply for Social Security (and When to Do It)
  • Americans increasingly abandon financial planning as economic pressures mount
  • Bezos-Sánchez Wedding Draws Business, Protests to Venice
  • Meta Plans to Release New Oakley, Prada AI Smart Glasses
  • American Express set to unveil game-changing update to its elite Platinum cards
  • Chris Hughes’ American Economic History
Wednesday, June 18
Facebook Twitter Instagram
Solutions For RealSolutions For Real
Subscribe For Alerts
  • Home
  • News
  • Personal Finance
    • Savings
    • Banking
    • Mortgage
    • Retirement
    • Taxes
    • Wealth
  • Make Money
  • Budgeting
  • Burrow
  • Investing
  • Credit Cards
  • Loans
Solutions For RealSolutions For Real
Home » Clorox slashes forecast due to effects of cyberattack; stock falls
Investing

Clorox slashes forecast due to effects of cyberattack; stock falls

News RoomBy News RoomOctober 4, 20230 Views0
Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Email Tumblr Telegram

Clorox Co. shares fell in the extended session Wednesday after the company slashed its outlook stemming from the impact of a cybersecurity attack over the summer.

Clorox
CLX,
+1.21%
shares fell as much as 5% after hours, following a 1.2% gain to close the regular session at $131.83. At Wednesday’s close, Clorox shares were down 6.1% for the year, while the S&P 500 index
SPX
has gained 11.1%.

The company forecast a loss of 75 cents to 35 cents a share, or a loss of 40 cents to break-even per share on an adjusted basis, for the quarter ending Sept. 30.

Also see: A stranger in your hotel room? Kitty-litter shortages? Online attacks are causing real-world effects.

Clorox said sales are expected to decrease by 28% to 23% from the year-ago first quarter of $1.74 billion, or in a range between $1.25 billion and $1.34 billion.

Analysts surveyed by FactSet had forecast first-quarter earnings of $1.29 a share on revenue of $1.77 billion.

In a statement late Wednesday, Clorox said the reduced outlook was “due to the impacts of the recent cybersecurity attack that was disclosed in August, which caused wide-scale disruption of Clorox’s operations, including order-processing delays and significant product outages.”

The company said shipment and consumption trends prior to the cyberattack factored in its prior forecast.

In early August, Clorox forecast sales in 2024 would be flat to 2% higher than 2023’s $7.39 billion, and adjusted earnings between $5.60 and $5.90 for the year, while analysts had expected $5.62 a share on revenue of $7.4 billion at the time.

Analysts currently forecast, on average, adjusted earnings of $5.78 a share on revenue of $7.5 billion.

Based on the company’s current assessment, Clorox said it expects “to experience ongoing, but lessening, operational impacts in the second quarter as it makes progress in returning to normalized operations,” and restocking retailers.

Analysts also forecast second-quarter earnings of $1.18 a share on revenue of $1.77 billion.

Clorox said it was “in the process of assessing the impact of the cybersecurity attack on fiscal-year 2024 and beyond,” and said it would provide an update during its first-quarter earnings call scheduled in November.

Back in mid-September, Clorox said the cyberattack would weigh on its results, and by the end of the month shares were on their longest losing streak since 2009.

Clorox shares have fallen nearly 18% since the company first disclosed the attack in a filing with the Securities and Exchange Commission on Aug. 14.

Read the full article here

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Articles

Meta Plans to Release New Oakley, Prada AI Smart Glasses

Investing June 18, 2025

Citigroup Gives Employees Two Weeks of Remote Work in August

Investing June 11, 2025

Meet a Swift Student Challenge Winner Attending Apple’s WWDC

Investing June 10, 2025

Profitable, AI-Powered Tech, Now Preparing for a Potential Public Listing

Investing June 9, 2025

Enjoy a Lifetime of Intuit QuickBooks Desktop Pro Plus for Just $250

Investing June 8, 2025

Why AI Startup Anysphere Is the Fastest-Growing Startup Ever

Investing June 7, 2025
Add A Comment

Leave A Reply Cancel Reply

Demo
Top News

10 Money-Saving Summer Dates to Mark on Your Calendar Now

June 18, 20250 Views

5 Steps to Apply for Social Security (and When to Do It)

June 18, 20250 Views

Americans increasingly abandon financial planning as economic pressures mount

June 18, 20250 Views

Bezos-Sánchez Wedding Draws Business, Protests to Venice

June 18, 20250 Views
Don't Miss

Meta Plans to Release New Oakley, Prada AI Smart Glasses

By News RoomJune 18, 2025

Following the unexpected success of the Ray-Ban Meta smart glasses, which have sold two million…

American Express set to unveil game-changing update to its elite Platinum cards

June 17, 2025

Chris Hughes’ American Economic History

June 17, 2025

Homes With These 3 Architecture Styles Are Gaining Value Fastest

June 17, 2025
About Us
About Us

Your number 1 source for the latest finance, making money, saving money and budgeting. follow us now to get the news that matters to you.

We're accepting new partnerships right now.

Email Us: [email protected]

Our Picks

Seven Important Points About Part D Drug Plans And Pharmacies

June 18, 2025

10 Money-Saving Summer Dates to Mark on Your Calendar Now

June 18, 2025

5 Steps to Apply for Social Security (and When to Do It)

June 18, 2025
Most Popular

A Deep Dive on the County Level

September 7, 20231 Views

Seven Important Points About Part D Drug Plans And Pharmacies

June 18, 20250 Views

10 Money-Saving Summer Dates to Mark on Your Calendar Now

June 18, 20250 Views
Facebook Twitter Instagram Pinterest Dribbble
  • Privacy Policy
  • Terms of use
  • Press Release
  • Advertise
  • Contact
© 2025 Solutions For Real. All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.