Clorox (CLX) warned it is still dealing with the fallout from a recent cyberattack, saying the hack will have a significant effect on its current quarter results.
Key Takeaways:
- Clorox said a cyberattack last month will have a material impact on current quarter results.
- The hack damaged portions of the company's IT systems, and it switched to manual ordering and processing procedures.
- Because of the attack, Clorox said it couldn't give a fiscal year outlook.
- The attack, first discovered Aug. 14, damaged portions of the company's information technology (IT) systems, which caused “widescale disruption of Clorox’s operations," it said in a filing Monday.
In response, the company took some systems offline and began manual ordering and processing procedures. Clorox continues operating at a lower rate of order processing and has recently started to experience higher consumer product availability issues, the company said.[1]
Clorox indicated that because of those problems, “the impact will be material” on first quarter results and that it is “premature” for the company to estimate what it will mean longer-term, including on its fiscal year outlook.
The company expects to begin transitioning back to normal automated order processing next week, it said, and has already resumed production at the vast majority of its manufacturing facilities. It "expects to ramp up to full production to occur over time.” However, it couldn’t estimate how long that would take.
Shares of Clorox were down slightly on 18 September afternoon but remains up for 2023.
This article is presented at no charge for educational and informational purposes only.
Red Sky Alliance is a Cyber Threat Analysis and Intelligence Service organization. For questions, comments or assistance, please contact the office directly at 1-844-492-7225, or feedback@redskyalliance.com
Weekly Cyber Intelligence Briefings:
- Reporting: https://www. redskyalliance. org/
- Website: https://www. redskyalliance. com/
- LinkedIn: https://www. linkedin. com/company/64265941
Weekly Cyber Intelligence Briefings:
REDSHORTS - Weekly Cyber Intelligence Briefings
https://attendee.gotowebinar.com/register/5504229295967742989
[1] https://www.investopedia.com/clorox-warns-current-quarter-results-affected-by-cyber-attack-7970962
Comments