What's Going On With Clorox Stock After The Bell?

Clorox Co CLX shares are trading higher in Wednesday's after-hours session on the heels of the company's fiscal first-quarter results. Here's a look at the key metrics from the quarter. 

Q1 Earnings: Clorox reported first-quarter revenue of $1.39 billion, which was down 20% on a year-over-year basis. The number beat estimates of $1.31 billion, according to Benzinga Pro.

Health and wellness sales were down 23%, household sales were down 23%, lifestyle sales declined 28% and international sales fell 5% on a year-over-year basis.

The consumer products company reported adjusted earnings of 49 cents per share, which was down 47% from 93 cents in the same quarter last year. 

Gross margin came in at 38.4%, up from 36% year-over-year. Net cash provided by operations year-to-date was $20 million versus $178 million in the same period last year.

"After entering the fiscal year with solid momentum, the August cyberattack caused wide-scale disruptions that are impacting our short-term financial performance," said Linda Rendle, CEO of Clorox.

"Looking forward, our near-term priorities are clear: We are laser focused on rebuilding customer inventories, preserving merchandising activities, and ultimately rebuilding distribution and market share."

Outlook: Clorox now expects full-year 2024 revenues to be down mid-to high single digits due to impacts from the cyberattack. Gross margin is now expected to be approximately flat. Adjusted earnings per share is now expected to be between $4.30 and $4.80, down from a prior outlook of $5.60 to $5.90.

CLX Price Action: Clorox shares were up 8.45% at $125.12 at the time of publication, according to Benzinga Pro.

Photo: Mike Mozart from Flickr.