Clorox warns Q1 net sales down ~25% on cyber attack; sees adjusted EPS loss up to $0.40

CLOROX CO /DE/

Preliminary Q1 FY2024 net sales expected down 28% to 23% YoY; organic sales down 26%–21% vs prior mid-single-digit growth.
Gross margin expected down YoY; diluted EPS loss $0.75–$0.35; adjusted EPS loss $0.40–$0.00, driven by cyber attack.
August cybersecurity attack caused wide-scale order processing delays and product outages; automated ordering resumed Sept 25.
Ongoing but lessening operational impacts expected in Q2; full FY2024 outlook to be provided on November earnings call.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

CLOROX CO /DE/ reported first fiscal quarter of 2024 / first quarter of fiscal 2024 / three months ended Sept. 30, 2023 results: revenue Net sales are expected to decrease by 28% to 23% from the year-ago quarter, EPS Diluted net earnings per share (diluted EPS) is expected to be between a loss of $0.75 to a loss of $0.35.

Period: first fiscal quarter of 2024 / first quarter of fiscal 2024 / three months ended Sept. 30, 2023
Revenue: Net sales are expected to decrease by 28% to 23% from the year-ago quarter
EPS: Diluted net earnings per share (diluted EPS) is expected to be between a loss of $0.75 to a loss of $0.35
Result: preliminary results

Exact text from the filing

30, 2023, as well as an operations update following the previously announced cybersecurity attack that impacted the Company’s business. · Net sales are expected to decrease by 28% to 23% from the year-ago quarter. Organic sales are now expected to decrease by 26% to 21% for the quarter, compared to the Company’s prior expectations of mid-single-digits

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Source: SEC EDGAR

accession 0001206774-23-001174

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