Kimberly-Clark Lowers Full-Year Guidance
By Matt Grossman
Kimberly-Clark Corp. Friday lowered its full-year sales and
profit guidance, following a quarter in which the company was hit
by temporary supply-chain disruptions and higher input costs.
The Texas-based maker of paper and fiber products said it now
expects sales to grow by 3% to 5% year over year. Previously, its
forecast had called for growth of 4% to 6%.
Kimberly-Clark also lowered its guidance range for full-year
adjusted earnings to between $7.30 and $7.55 a share, from between
$7.75 and $8.00 a share previously.
Analysts polled by FactSet had been forecasting adjusted
earnings of $7.72 a share on revenue of $19.97 billion.
"While our updated outlook reflects a more challenging near-term
environment, our business remains fundamentally healthy," Chairman
and Chief Executive Mike Hsu said.
Write to Matt Grossman at firstname.lastname@example.org
(END) Dow Jones Newswires
April 23, 2021 08:12 ET (12:12 GMT)
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