Why Clorox Shares Are Sliding After Hours

Clorox Co CLX shares are trading lower in Monday's after-hours session after the company reported financial results and cut its full-year earnings forecast.

Clorox said fiscal third-quarter revenue increased 2% year-over-year to $1.8 billion, which was in line with analyst estimates. The company reported quarterly earnings of $1.31 per share, which beat the estimate of 97 cents per share, according to data from Benzinga Pro.

Clorox said it expects full-year 2022 adjusted earnings to be in a range of $4.05 to $4.30 per share versus the estimate of $4.18 per share. This represents a decrease from the company's prior adjusted earnings guidance of $4.25 to $4.50. The company maintained full-year revenue expectations for a decrease of 1% to 4% year-over-year.

CLX 52-Week Range: $127.02 - $191.75

The stock was down 2.29% in after hours at $140 at press time.

Photo: courtesy of Clorox.