Shares of Clorox Co. plummeted 5.64% in pre-market trading on Friday. The sharp decline followed the cleaning products maker's release of its third-quarter financial results and a significant downward revision to its full-year guidance.

The company lowered its fiscal 2026 adjusted earnings per share forecast to a range of $5.45 to $5.65, down from its previous outlook of $5.95 to $6.30. Clorox cited multiple headwinds for the cut, including weaker demand for its products as consumers reduce discretionary spending, and significantly higher energy, fuel, and freight costs linked to the U.S.-Israeli war on Iran.

Additionally, integration costs related to its recent acquisition of GOJO Industries, the maker of Purell, are pressuring margins. The company also expects its annual gross margin to decline by 250 to 300 basis points. Following the guidance cut, analysts at JP Morgan reduced their price target on Clorox stock to $95 from $99.