Kimberly-Clark Announces Second Quarter 2019 Results

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DALLAS, July 23, 2019 -- Kimberly-Clark Corporation (NYSE: KMB) today reported second quarter 2019 results and raised its outlook for full-year 2019 organic sales growth and earnings per share.

Executive Summary

  • Second quarter 2019 net sales of $4.6 billion were even with the year-ago period. Organic sales increased 5 percent while changes in foreign currency exchange rates reduced sales by 5 percent.
  • Diluted net income per share for the second quarter was $1.40 in 2019 and $1.30 in 2018.
  • Second quarter adjusted earnings per share were $1.67 in 2019 and $1.59 in 2018. Adjusted earnings per share exclude certain items described later in this news release.
  • Diluted net income per share for full-year 2019 is expected to be $5.50 to $5.90 compared to the prior estimate of $4.85 to $5.35.
  • The company is now targeting full-year 2019 organic sales growth of 3 percent and adjusted earnings per share of $6.65 to $6.80. The prior outlook was for organic sales growth of 2 percent and adjusted earnings per share of $6.50 to $6.70.

Chief Executive Officer Mike Hsu said, "We made excellent progress in the second quarter. We delivered strong organic sales growth, gross margin improvement and higher earnings per share. In addition, we generated $90 million of cost savings and returned $520 million to shareholders through dividends and share repurchases. We also continued to launch innovations, pursue our growth priorities and increase investments in our brands."

Hsu added, "For the full year, we are raising our top- and bottom-line outlook, reflecting strong execution and an improving commodity environment. We're also increasing our growth investments behind our brands and in capabilities that will position us for longer-term success. We continue to be optimistic about our opportunities to deliver balanced and sustainable growth and create shareholder value through execution of K-C Strategy 2022."

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Source: Kimberly-Clark

 

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