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KMB
Kimberly-Clark Corp.
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$ 134.84

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Video

Inflation Is Hitting Diapers. Here's Why

  • Inflation Is Hitting Diapers. Here's Why Inflation Is Hitting Diapers. Here's Why 6:44
2:56 a.m. Today - By Tonya Garcia
Kimberly-Clark beats expectations despite profit decline, gives full-year guidance below Street expectationsKimberly-Clark Corp. stock fell 5.1% in Wednesday premarket trading after the consumer goods company gave 2022 guidance below Street expectations. Net income totaled $357 million, or $1.06 per share, down from $539 million, or $1.58 per share, last year. Adjusted EPS of $1.30 beat the FactSet consensus of $1.25. Sales totaled $4.965 billion, up from $4.836 billion and ahead of the FactSet consensus for $4.892 billion. Kimberly-Clark brands include Kotex feminine hygiene products, Cottonelle bath tissue and Huggies diapers. The company announced that it raised its quarterly dividend by 1.8% to $1.16, payable on April 4 to stockholders of record as of March 4. For 2022, Kimberly-Clark is guiding for a sales increase of 1% to 2%, earnings of $5.60 to $6.00 and a cost increase of $750 million to $900 million due to increases in raw materials and other items. The FactSet consensus is for sales of $20.042 billion, suggesting growth of about 3.4%, and EPS of $6.74. Kimberly-Clark shares are up 1.8% over the past year while the S&P 500 index has gained 13.2%.
2:49 a.m. Oct. 25, 2021 - By Tonya Garcia
Kimberly-Clark announces profit warning as company prepares to raise pricesKimberly-Clark Corp. shares fell 2.7% in Monday premarket trading after the consumer goods company reported third-quarter earnings that missed expectations and lowered its earnings guidance. Net income totaled $469 million, or $1.39 per share, compared with $472 million, or $1.38 per share, last year. Adjusted EPS of $1.62 missed the FactSet consensus for $1.65. Sales of $5.01 billion were up from $4.68 billion last year and ahead of the FactSet consensus for $4.99 billion. "Our earnings were negatively impacted by significant inflation and supply chain disruptions that increased our costs beyond what we anticipated," said Chief Executive Mike Hsu in a statement. "We are taking further action, including additional pricing and enhanced cost management, to mitigate these headwinds as it is becoming clear they are not likely to be resolved quickly." A global restructuring program announced in 2018 is expected to be complete at the end of the year with total charges of $2.1 billion to $2.2 billion pre-tax, and pre-tax annual savings of $550 million to $560 million by the end of 2021. Kimberly-Clark narrowed its sales forecast to growth of 1% to 2% compared to previous guidance of 1% to 4%. Adjusted EPS guidance was lowered to $6.05 to $6.25 from previous guidance of $6.65 to $6.90. The FactSet consensus is for sales of $19.418 billion, implying growth of 1.5%, and EPS of $6.70. Kimberly-Clark stock has fallen 1.3% for the year to date while the S&P 500 index has gained 21% for the period.
2:50 a.m. July 23, 2021 - By Ciara Linnane
Kimberly-Clark profit slides to miss estimates as sales fall short amid reduced demand for tissueKimberly-Clark Corp. shares slid 3.9% in premarket trade Friday, after the consumer goods company missed earnings estimates for the second quarter and lowered its guidance, as higher costs and reduced demand for consumer tissue weighed. The company posted net income of $404 million, or $1.19 a share, in the quarter, down from $681 million, or $1.99 a share, in the year-earlier period. Adjusted per-share earnings came to $1.47, missing the $1.71 FactSet consensus. Sales edged up 2% to $4.722 billion from $4.612 billion, also below the $4.766 billion FactSet consensus. Chief Executive Mike Hsu said the numbers reflect continued pandemic-driven volatility. "We are facing significantly higher input costs and a reversal in consumer tissue volumes from record growth in the year ago period as consumers and retailers in North America continued to reduce home and retail inventory," Hsu said in a statement. "While we look forward to a return to a more normalized environment, we have moved decisively to take pricing actions to mitigate inflationary headwinds and continue to prudently manage costs." The company is now expecting full-year adjusted EPS of $6.65 to $6.90, down from prior guidance of $7.30 to $7.55. It expects sales to grow 1% to 4%, down from prior guidance of 3% to 5%. It also expects to complete a restructuring program in 2021 and to book charges of $2.0 billion to $2.1 billion. Shares have fallen 0.1% in the year through Thursday, while the S&P 500 has gained 16%.
6:25 a.m. June 7, 2021 - By Tonya Garcia
Kimberly-Clark announces eco-partnership that will yield marine degradable materialsKimberly-Clark Corp. announced Monday that it has partnered with biotech RWDC Industries to create sustainable plastic alternatives. The companies aim to develop materials that are marine degradable, which will move the company away from traditional fossil fuels and help Kimberly-Clark meet its sustainability goals. Over the next five years, Kimberly-Clark aims to introduce more eco-friendly products. RWDC uses plant-based oils to produce its proprietary PHA, which can be composted. Kimberly-Clark brands include Huggies diapers, Kleenex and Kotex. Kimberly-Clark stock is down 3.7% for the year to date while the S&P 500 index is up 12.4% for the period.
2:49 a.m. April 23, 2021 - By Tomi Kilgore
Kimberly-Clark stock sinks after profit and sales missed, as weather, tissue weakness and inflation weighedShares of Kimberly-Clark Corp. sank 4.5% in premarket trading Friday, after the consumer products company, which brands include Kleenex, Huggies, Scott and Depend, reported first-quarter profit and sales that fell below expectations, and lowered its full-year outlook. "First quarter comparisons were impacted by COVID-19 related stock up in the year-ago period, consumer tissue category softness and commodity inflation," said Chief Executive Mike Hsu. "We also experienced temporary supply chain disruptions related to severe weather conditions in the southern part of the United States." Net income fell to $584 million, or $1.72 a share, form $660 million, or $1.92 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share declined to $1.80 from $2.13, missing the FactSet consensus of $1.93. Sales were down 5% to $4.74 billion, below the FactSet consensus of $4.98 billion, as personal care sales declined 2%, consumer tissue sales dropped 12% and K-C Professional sales fell 11%. Volumes declined 10%, while net selling prices edged up 1%. For 2021, the company cut its adjusted EPS guidance range to $7.30 from $7.55 from $7.75 to $8.00, and lowered its organic sales growth outlook to flat to positive 1% from growth of 1% to 2%. The stock has gained 4.1% year to date through Thursday, while the SPDR Consumer Staples Select Sector ETF has edged up 3.4% and the S&P 500 has advanced 10.1%.
5:17 a.m. Feb. 6, 2021 - By Nicole Lyn Pesce
Super Bowl 2021: Why brands like Coke, Budweiser and Pepsi are benching their stars from in-game commercials this year It’s creating opportunity for first-time Super Bowl advertisers like Chipotle, DoorDash and Huggies to join the big leaguesIt’s creating opportunity for first-time Super Bowl advertisers like Chipotle, DoorDash and Huggies to join the big leagues
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