Clorox Company Sees Loss For Q1

(RTTNews) - The Clorox Company (CLX), a consumer products maker, said that it expects a loss and a decline in sales for the first-quarter of 2024, mainly due to the impact of recent cybersecurity attack.

For the first-quarter ended on September 30, the company expects net loss per share of $0.75 - $0.35.

Excluding items, Clorox sees loss per share of $0.40 - $0.00. On average, 14 analysts polled by Thomson Reuters expect the firm to post income per share of $1.36, for the quarter. Analysts' estimates typically exclude special items.

The company expects its sales to decline by 28 percent to 23 percent from the year-ago quarter.

Organic sales are now expected to decrease by 26 percent to 21 percent as against the firm's prior expectation for a mid-single-digits growth.

Analysts, on average, expect the company to register sales of $1.77 billion, for the quarter.

As previously announced, Clorox believes that the cybersecurity attack has been contained and is making progress in restoring its systems and operations to ramp up output and shipments to rebuild retailer inventories.