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Clorox Shares Tumble After Warning Cyberattack Will Impact Its Quarterly Results

Bottles of Clorox bleach sit on a shelf at a grocery store on February 11, 2011 in San Francisco, California.

Justin Sullivan / Staff / Getty Images

Key Takeaways

  • Clorox warned that a cyberattack in August will have a significant negative impact on its quarterly results.
  • The maker of cleaning products indicated it will have no net profit per share to a loss of $0.40, and sales will be down 25% to 28%.
  • Shares of Clorox sank in early trading on Thursday to their lowest level since 2018.

Clorox (CLX) shares plunged in early trading on Thursday after warnin♛g that the effects of a cybeꦚrattack against the company will significantly impact results from its recently completed fiscal 2024 first quarter ended in September.

The maker of its namesake bleach and other cleaning products indicated that net sales would be 25% to 28% lower than a year ago. It said 澳洲幸运5开奖号码历史查询:organic sales would decline 21% to 26%, down from i💖ts earlier expectation of mid-single-digit percentage growth. 

Clorox also now anticipates no net profit per share to a loss of $0.40 per share in the period. Analysts had estimated earnings per share (EPS) of $1.25. It added that 澳洲幸运5开奖号码历史查询:gross profit to be negative, rather𝔍 than its prior prediction of a🍨n increase. 

The company explained that the 澳洲幸运5开奖号码历史查询:🙈cyberattack that it first reported on Aug. 14 caused “wide-scale disruption” of its operations, which included order processing delays 🌄and “significant product outages.” It noted that shipment and consumption trend🐲s were in line with forecasts prior to the attack.

Clorox indica❀ted that it believes it will experience the effects of the disruption, but🍃 to a lesser degree, in the current quarter. The company is evaluating the impact in fiscal 2024 and beyond.

The hackers that breached Clorox’s system are reportedly suspected of belonging to the same group that recently 澳洲幸运5开奖号码历史查询:attacked casino operators MGM Resorts International (MGM) and Caesars Entertainment (CZR). 

Shares of Clorox sank to their lowest level in more than five years🅰 following the news and were down 8% as of noon E.T. on Thursday.

CLX

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