Kimberly-Clark's Sales Top $5 Billion

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 recent quarter as consumers stockpiled paper products.

Sales at the personal-care company rose more than 8% from a year ago. Analysts were expecting sales of $4.86 billion, according to FactSet. Kimberly-Clark said consumers stocking up on products boosted all of its segments and main geographies.

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 in prepared remarks.

(END) Dow Jones Newswires

April 22, 2020 08:21 ET (12:21 GMT)

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