Clorox Shares Plunge on Q1 Loss Warning After Cyber Attack Disruption

Clorox shares fell over 8% on Thursday to lowest level since May 2018 after warning of quarterly loss and up to 28% drop in revenue due to August cyber attack.

Clorox forecast fiscal Q1 loss per share of $0.35 to $0.75 versus year-ago profit of $0.68, and 23-28% drop in net sales.

Analysts slashed Clorox's price targets and downgraded stock on financial hit from cyber attack.

Attack disrupted operations and will have "material impact" on Q1 results with ongoing but lessening impacts in Q2.

Analysts concerned about time taken to assess financial impact and disconnect between operations, planning and reporting.