A cyberattack at Clorox has caused disruptions in the company's operations, resulting in product shortages and financial impact, with the company yet to resume full production.
Clorox warns of a significant decrease in sales and profit due to a cyberattack, with expectations of a 23-28% decrease in net sales and a per-share loss of 35-75 cents, as the company continues to assess the impact on future periods.
Clorox shares dropped more than 8% after the company reported that a cyberattack in August had a significant negative impact on sales and profits, leading to a 23% to 28% decline in sales for the quarter and a projected loss of up to 40 cents per share.
Shares in Clorox fell 8.1% after a cyber attack in August led the cleaning supplies company to forecast a quarterly loss and a significant decline in revenue, with analysts downgrading the stock and expressing concerns over operational and financial planning.
Cleaning product maker Clorox experienced a significant decline in its stock price after disclosing the financial impact of a cyberattack in August, leading to downgrades and price target cuts by analysts.
Multiple companies, including Johnson Controls, Clorox, and MGM Resorts, have recently experienced significant cybersecurity breaches, resulting in financial losses and operational disruptions, highlighting the ongoing issue of cyberattacks affecting various industries.