MGM - Why Bleach And Cleaning Products Maker Clorox's Shares Declining Today? | Benzinga
Clorox Co (NYSE: CLX) shares are trading lower after it reported preliminary Q1 FY24 financial results.
Outlook: The company sees Q1 adjusted EPS of $(0.40)-$0.00 and a net sales decline of 23%-28% Y/Y, with expected organic sales decrease of 26%-21% (vs. guidance of mid-single-digits growth).
Also, Clorox projects gross margin to be down Y/Y in Q1 vs. the outlook of gross margin to be up.
The company's weak expectations are due to the recent cybersecurity attack on August 14.
Last month, Clorox ...