The Clorox Company revised earnings guidance for the fiscal year 2024. The company continues to expect net sales to be down low single digits. However, it is now expected to be at the low end of the range, reflecting the impact of the divestiture of the business in Argentina as well as third quarter results.

The sales outlook now assumes 3 points of unfavorable foreign exchange rates, versus the previous assumption of 5 points, driven primarily by the divestiture of the Argentina business. Organic sales are still expected to be up low single digits, but also at the low end of the range. Net of these factors, fiscal year diluted EPS is now expected to be between $1.66 and $1.81, or an increase of 38% to 51%, respectively.

This compares to previous expectations between $3.06 and $3.26, or an increase of 155% to 172%, respectively, and includes the lapping of a noncash impairment charge in the Vitamins, Minerals and Supplements business.