Why Clorox Shares Are Getting Slammed Today

Clorox Co CLX is trading significantly lower Tuesday morning after the company announced worse-than-expected financial results and issued guidance below estimates.

Clorox reported quarterly earnings of 95 cents per share, which came in below the estimate of $1.36 per share. The company reported quarterly revenue of $1.8 billion, which came in below the estimate of $1.92 billion. 

Clorox expects fiscal 2022 earnings to be in a range of $5.40 per share to $5.70 per share, which was below the estimate of $7.67 per share. 

"As we head into fiscal year 2022, we're laser focused on operational execution, rebuilding our margins and driving market share improvements in this dynamic environment," said Linda Rendle, CEO of Clorox.

Price Action: Clorox has traded as high as $239.87 and as low as $161.01 over a 52-week period.

At last check Tuesday, the stock was down 11.10% at $161.10.

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Posted In: EarningsNewsGuidanceMoversTrading IdeasLinda Rendlewhy it's moving
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