Kimberly-Clark Reinstates 2020 Guidance, Higher Than Previous Range
July 23 2020 - 8:30AM
Dow Jones News
By Matt Grossman
Kimberly-Clark Corp. Thursday reinstated full-year financial
guidance, forecasting earnings higher than what it had anticipated
when it first estimated its yearly profit in January.
The Dallas-based company, parent to brands such as Huggies,
Kleenex, Scott and Cottonelle, said it anticipates full-year
earnings of $6.35 to $6.90 a share, or $7.40 to $7.60 on an
adjusted basis.
Analysts had been expecting full-year adjusted earnings of $7.55
a share, according to FactSet.
Kimberly-Clark said it expects a net sales increase of 1% to 2%
and organic sales growth of 4% to 5%.
In January, the company had forecast 2020 adjusted earnings of
$7.10 to $7.35 a share, but withdrew that guidance in April amid
the uncertainty of the coronavirus pandemic.
Kimberly-Clark said it will resume its share-repurchase program,
which was also suspended in April.
Write to Matt Grossman at matt.grossman@wsj.com
(END) Dow Jones Newswires
July 23, 2020 08:15 ET (12:15 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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