Shares surge as company rebuilds inventories after cyberattack
- Clorox shares rise 7.1% after raising outlook
- Sales for the year expected to be down low-single digits
- Full-year earnings-per-share outlook raised
- Second-quarter net profit of $93 million
Shares of Clorox rose 7.1% in after-hours trading as the company raised its outlook for the year. The cleaning-product maker expects sales for the year to be down low-single digits, an improvement from previous guidance. Clorox also raised its full-year earnings-per-share outlook and no longer expects its full-year gross margin to be flat. In the second quarter, the company reported a net profit of $93 million, beating analysts’ expectations. Sales for the quarter jumped 16% amid growth in volumes across its categories.
Public Companies: Clorox (CLX)
Private Companies:
Key People:
Factuality Level: 8
Justification: The article provides specific information about Clorox’s stock performance, outlook, and financial results. It includes data on sales, earnings per share, and gross margin. The information is supported by comparisons to previous periods and analyst forecasts. There is no obvious bias or opinion presented in the article.
Noise Level: 3
Justification: The article provides relevant information about Clorox raising its outlook for the year and the reasons behind it, such as rebuilding retailer inventories after a cyberattack. It includes specific figures and comparisons to previous periods and analyst forecasts. However, it lacks in-depth analysis or exploration of long-term trends or consequences of the company’s decisions.
Financial Relevance: Yes
Financial Markets Impacted: Shares of Clorox
Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to the financial performance of Clorox and its impact on the company’s shares. There is no mention of an extreme event.
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