Kimberly-Clark Increases FX Negative Impact Outlook -- Currency Comment

By Paulo Trevisani

Kimberly-Clark Corp. said Tuesday foreign exchange rates had a negative effect on third-quarter sales and would likely hurt full-year results more than previously expected.

The Irving, Texas consumer-goods company said it is now assuming an FX negative hit of 3% to 4% on 2022 net sales, up from a previous forecast of a 3% unfavorable effect.

It now expects a mid- to high-single digit effect on operating profit, up from mid-single digit previously.

Adjusted earnings per share outlook was kept at the lower end of $5.60 to $6.00.

Kimberly-Clark said FX rates reduced sales by 4% in the third quarter. It reported $5.1 billion in quarterly sales, 1% higher than a year earlier.

Write to Paulo Trevisani at paulo.trevisani@wsj.com

(END) Dow Jones Newswires

October 25, 2022 09:43 ET (13:43 GMT)

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