Clorox quantified its sales hit due a cyberattack--a fiscal first quarter loss and a sales decline ranging between 28% to 23%.
As previously disclosed in a regulatory filing, Clorox was hit by a cyberattack disclosed in August hampered production. Business was on track leading up to the cyberattack.
Because of the attack, Clorox had to restore its systems and manually take orders. On Sept. 25, Clorox began transitioning to automated order processing.
Clorox said in a statement that sales will be down significantly and well below the mid-single digit growth previously outlined. The company is now projecting a loss between 75 cents a share and 35 cents a share. Adjusted earnings will range from a loss of 40 cents a share to breakeven.
According to the company, it expects "to experience ongoing, but lessening, operational impacts in the second quarter as it makes progress in returning to normalized operations." Clorox said it may benefit from retailer restocking.
Clorox said it will update investors on the cyberattack impact for the rest of the fiscal year.
