By Dave Sebastian

 

Kimberly-Clark Corp. said it lowered its 2021 guidance due to higher input cost inflation and lower sales volumes.

The Texas-based maker of paper and fiber products on Friday said it sees adjusted earnings of $6.65 a share to $6.90 a share on organic sales of flat to down 2%. It previously saw adjusted earnings of $7.30 a share to $7.55 a share on organic sales growth of flat to 1%.

The company said it sees net sales rising 1% to 4% for the year, compared with its prior outlook of up 3% to 5%.

Kimberly-Clark said it expects key cost inputs to rise $1.2 billion to $1.3 billion, compared with its prior estimate of $900 million to $1.05 billion, due to polymer-based materials and pulp.

It also said it sees capital spending of $1.1 billion to $1.2 billion, compared with the $1.2 billion to $1.3 billion it previously guided.

 

Write to Dave Sebastian at dave.sebastian@wsj.com

 

(END) Dow Jones Newswires

July 23, 2021 08:01 ET (12:01 GMT)

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