Clorox's (CLX) third-quarter fiscal 2024 bottom line benefits from pricing actions and cost-saving initiatives. The company also boasts a solid innovation pipeline.
Shares of consumer products giant Clorox (NYSE:CLX) fell 7.4% in the morning session after the company reported first-quarter results, which missed analysts' revenue expectations, as sales declined in absolute terms. The weak topline performance was attributed to lower volume from temporary distribution losses due to disruptions caused by the cyberattack. Management also called out unfavorable foreign exchange rates.
(Bloomberg) -- Clorox Co. lowered its sales forecast for the year after reporting a surprise drop in shipment volumes, as the bleach maker’s recovery from last year’s cyberattack shows signs of stalling.Most Read from BloombergTesla Axes Supercharger Team in Blow to Broader EV MarketNYPD Arrests Over 300 Protesters in Crackdown on College CampusesUS and Saudis Near Defense Pact Aimed at Reshaping Middle EastThe Ozempic Effect: How a Weight Loss Wonder Drug Gobbled Up an Entire EconomyLilly Soars