What's Going On With Clorox Stock After The Bell?
Portfolio Pulse from Adam Eckert
Clorox Co (NYSE:CLX) shares traded higher in after-hours session following the company's Q1 results. Despite a 20% YoY decrease in revenue to $1.39 billion, the figure beat estimates of $1.31 billion. Adjusted earnings per share were down 47% YoY to 49 cents. The company's gross margin increased to 38.4% from 36% YoY. Clorox's CEO cited a cyberattack as a cause for short-term financial performance disruptions. The company revised its full-year 2024 outlook downwards due to the cyberattack impact.
November 01, 2023 | 9:49 pm
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Clorox's Q1 results beat revenue estimates but saw a significant YoY decrease. A cyberattack disrupted the company's short-term financial performance, leading to a downward revision of its full-year 2024 outlook.
Clorox's Q1 results beat revenue estimates, which likely contributed to the after-hours increase in its stock price. However, the YoY decrease in revenue and earnings, as well as the downward revision of its full-year 2024 outlook due to a cyberattack, could potentially impact the stock negatively in the short term.
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