Kimberly-Clark's 1Q Sales Top $5 Billion
April 22 2020 - 8:27AM
Dow Jones News
By Allison Prang
Sales at Kimberly-Clark Corp., the seller of Scott and
Cottonelle toilet paper and Kleenex, jumped to slightly more than
$5 billion in the first quarter as consumers stockpiled paper
products.
Sales at the personal-care company rose more than 8% from a year
ago. According to FactSet, analysts were expecting sales of $4.86
billion. Kimberly-Clark said consumers stocking up on products
boosted all of its segments and main geographies and that consumer
tissue was especially impacted.
Consumers, spurred by the Covid-19 pandemic, have rushed to buy
goods like toilet paper, pressuring those products' suppliers.
The company's net income climbed 45%, to $660 million.
Kimberly-Clark's earnings were $1.92 a share, up from $1.31 a
share. Adjusted earnings were $2.13 a share. Analysts' expected
$1.98 a share.
Kimberly-Clark is also temporarily suspending its guidance as a
result of the pandemic, Chief Executive Mike Hsu said.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
April 22, 2020 08:12 ET (12:12 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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