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Kimberly-Clark 2Q Net Off 18% On Rising Costs; Raises Year Sales View

DOW JONES NEWSWIRES Kimberly-Clark Corp.'s (KMB) second-quarter earnings fell 18% as the consumer-products company struggles to offset rising commodity costs with price increases that won't erode its market share. The company raised its full-year sales estimate for the second time, projecting growth of 5% to 7%, up from its April forecast of 4% to 6%. Although commodity-cost inflation has worsened over the last three months, the company backed its full-year earnings guidance, saying it will make incremental cost savings and overhead reductions. "We are gaining market share in a number of businesses and are launching additional product innovations to further improve our brands," said Chairman and Chief Executive Thomas J. Falk. "Although adjusted earnings per share were down slightly in the second quarter versus last year, we delivered sequential improvement in most key metrics." Kimberly-Clark, whose products include Huggies diapers, Scott paper towels and Kleenex tissues, is facing sharp cost increases for materials like wood pulp and fuel, while still battling tepid demand for its products, particularly in North America. The company has vowed to take aggressive actions, including raising prices on nearly all products sold in North America, making steeper overhead cuts and exiting the integrated pulp manufacturing business. Kimberly-Clark reported a profit of $408 million, or $1.03 a share, down from $498 million, or $1.20 a share, a year earlier. Excluding items such as restructuring charges, earnings fell to $1.18 in the most recent quarter. Sales jumped 8.3% to $5.26 billion. Analysts polled by Thomson Reuters had most recently forecast earnings of $1.14 a share on revenue of $5.13 billion. Gross margin fell to 29.6% from 33.8%. Sales at the personal-care segment, the largest by revenue, rose 7% and consumer-tissue segment sales were up 9%. The smaller K-C Professional and health-care businesses saw sales increase 6% and 14%, respectively. Shares fell 0.8% to $67.35 in premarket trading. The stock has risen 6.7% over the past year. -By Melodie Warner, Dow Jones Newswires; 212-416-2283; melodie.warner@dowjones.com

Stock News for Kimberly Clark (KMB)
DateTimeHeadline
09/26/201610:45:00AHE and Kimberly-Clark Professional Announce 2016 Heart of Healthcare...
09/20/201609:30:00The U by Kotex Brand Continues To Improve The Feminine Care Experience...
09/18/201621:30:00Koch Tries Its Hand at Carpet Cleaners
09/15/201617:00:00Kimberly-Clark Chief Human Resources Officer Liz Gottung Announces...
08/29/201606:29:00Kimberly-Clark Scores Hit Video Series With 'Carmilla'
08/26/201622:07:00HALYARD 72 HOUR DEADLINE ALERT: Approximately 72 Hours Remain;...
08/26/201609:48:00UPCOMING DEADLINE: Levi & Korsinsky, LLP Reminds Shareholders...
08/25/201609:00:00Kessler Topaz Meltzer & Check, LLP Announces Final Deadline Reminder...
08/24/201614:03:23Statement of Changes in Beneficial Ownership (4)
08/24/201610:02:00Kimberly-Clark to Webcast Presentation and Q&A at Barclays Global...
08/23/201615:00:29Statement of Changes in Beneficial Ownership (4)
08/19/201618:00:00Ryan & Maniskas, LLP Announces Class Action Lawsuit Against Halyard...
08/12/201610:13:00INVESTOR ALERT: Levi & Korsinsky, LLP Reminds Shareholders of...
08/12/201607:00:00DEADLINE ALERT: Rigrodsky & Long, P.A. Reminds Shareholders Of...
08/08/201613:05:00Statement of Changes in Beneficial Ownership (4)
08/08/201613:03:33Statement of Changes in Beneficial Ownership (4)
08/08/201612:49:00HYH, KMB SHAREHOLDER ALERT: The Law Offices of Vincent Wong Reminds...
08/03/201614:25:00INVESTOR ALERT: The Law Offices of Vincent Wong Reminds Investors...
08/02/201621:10:00P&G Says It Sees Hopeful Signs In Very Challenging China Market
08/02/201615:51:19Statement of Changes in Beneficial Ownership (4)

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