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Clorox Expects Inflation Will Curb Profit for Another Year

  • Company guidance for earnings falls short of analyst estimates
  • CEO says Clorox is cutting costs to improve its margins
Clorox Disinfecting Wipes canisters at the company's manufacturing facility in Forest Park, Georgia.

Clorox Disinfecting Wipes canisters at the company's manufacturing facility in Forest Park, Georgia.

Photographer: Matt Odom/Bloomberg
Updated on

Clorox Co. tumbled after its earnings guidance fell well short of analyst estimates, underscoring how inflation could continue to plague companies long into 2023.

The owner of Burt’s Bees natural skincare and Hidden Valley salad dressing forecast earnings per share in a range of $3.85 and $4.22, excluding some items, in the 12 months ending June 2023. That trailed the $5.26 average estimate from analysts surveyed by Bloomberg.