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 matt.grossman@wsj.com

 

(END) Dow Jones Newswires

April 23, 2021 08:12 ET (12:12 GMT)

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