FMP

FMP

Enter

Clorox Stock Plunges 8% on Guidance Cut Due to Cybersecurity Breach

- (Last modified: Dec 19, 2023 6:49 PM)

twitterlinkedinfacebook
blog post cover photo

Image credit: FMP

Clorox (NYSE:CLX) shares experienced a more than 8% drop intra-day today following the company's announcement of a cybersecurity breach.

Due to this security incident, Clorox is projecting a substantial decrease in Q1 net sales, ranging from 28% to 23% compared to the same quarter in the previous year. Organic sales are also expected to decline, with an estimated drop of 26% to 21% for the quarter. The cybersecurity attack has led to significant disruptions, including delays in processing orders and shortages of products.

The company now anticipates an adjusted EPS within the range of a loss of $0.40 to break even. This stands in contrast to its previous expectations of an increase in gross margin, as Clorox now foresees a lower gross margin compared to the same quarter in the prior year.

Regarding the situation, Clorox stated that it expects ongoing operational challenges in the second quarter but believes these disruptions will gradually diminish as the company progresses toward a return to normal operations.

Other Blogs

May 14, 2024 11:41 AM - Sanzhi Kobzhan

The easiest way to calculate stock’s target price and why the target price is important.

A stock's target price, also known as its fair value, is an indication of what a share can cost based on the company’s forecasted financial statements. It is important to know a stock's fair value to find undervalued stocks with great growth potential. Let's consider how investment analysts calculat...

blog post title

May 24, 2024 9:30 AM - Rajnish Katharotiya

How to Access and Analyze Earnings Call Transcripts

Earnings call transcripts are invaluable resources for investors, analysts, and financial enthusiasts. They provide insights into a company's performance, strategy, and future outlook, making them essential for making informed investment decisions. With Financial Modeling Prep, Earnings Call Transcr...

blog post title

May 27, 2024 3:30 PM - Rajnish Katharotiya

The best 5 GPU stocks other than NVDA

In the ever-evolving world of technology, certain sectors have consistently demonstrated exceptional growth and innovation. The graphics processing units (GPUs) industry is one such sector, offering investors a golden opportunity for potentially high returns. In this blog, we'll delve into why inves...

blog post title
FMP

FMP

Financial Modeling Prep API provides real time stock price, company financial statements, major index prices, stock historical data, forex real time rate and cryptocurrencies. Financial Modeling Prep stock price API is in real time, the company reports can be found in quarter or annual format, and goes back 30 years in history.
twitterlinkedinfacebookinstagram
2017-2024 © Financial Modeling Prep