Kimberly-Clark Announces Second Quarter 2018 Results

  • Second quarter 2018 net sales of $4.6 billion increased 1 percent compared to the year-ago period. Changes in foreign currency exchange rates benefited sales by 1 percent while organic sales were even year-on-year.

  • Diluted net income per share for the second quarter of 2018 was $1.30. Second quarter adjusted earnings per share were $1.59 in 2018, an increase of 7 percent compared to diluted net income per share of $1.49 in 2017. Adjusted earnings per share exclude certain items described later in this news release.

  • Diluted net income per share for 2018 is anticipated to be $3.37 to $3.87.

  • The company is now targeting full-year 2018 adjusted earnings per share of $6.60 to $6.80, a year-on-year increase of 6 to 9 percent. The company's prior target was $6.90 to $7.20. The update reflects higher commodity inflation along with a worse currency outlook, partially offset by increased cost savings and reduced overhead spending.

Chairman and Chief Executive Officer Thomas J. Falk said, "Our second quarter results reflect a challenging environment, particularly with commodity inflation. Nonetheless, we continue to manage our company with financial discipline, as we generated $150 million of cost savings, reduced discretionary spending and returned approximately $575 million to shareholders through dividends and share repurchases."

Falk added, "For the full year, we are maintaining our organic sales growth target and reducing our earnings outlook because of significantly higher commodity costs and the recent weakening of most foreign currencies. Given these headwinds, we will continue to aggressively manage costs and evaluate further opportunities to increase net selling prices. While the near-term environment has become more difficult, we continue to execute our long-term strategies to grow our brands and deliver cost savings while we implement our restructuring that will make Kimberly-Clark an even stronger company."

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