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Clorox Co. shares fell in the extended session Wednesday after the company slashed its outlook stemming from the impact of a cybersecurity attack over the summer.
Clorox
CLX,
shares fell as much as 5% after hours, following a 1.2% gain to close the regular session at $131.83.
The company forecast a loss of 75 cents to 35 cents a share, or a loss of 40 cents to break-even per share on an adjusted basis, for the quarter ending Sept. 30.
Clorox said sales are expected to decrease by 28% to 23% from the year-ago first quarter of $1.74 billion, or come in a range between $1.25 billion and $1.34 billion.
Analysts surveyed by FactSet had forecast first-quarter earnings of $1.29 a share on revenue of $1.77 billion.
In a statement late Wednesday, Clorox said the reduced outlook was “due to the impacts of the recent cybersecurity attack that was disclosed in August, which caused wide-scale disruption of Clorox’s operations, including order-processing delays and significant product outages.”
The company said shipment and consumption trends prior to the cyberattack factored in its prior forecast.
Back in mid-September, Clorox said the cyberattack would weigh on its results, and by the end of the month shares were on their longest losing streak since 2009.
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