Kimberly-Clark Announces Second Quarter 2021 Results

About this update from Kimberly-clark Corporation

[{"type":"text","content":"DALLAS, July 23, 2021 /PRNewswire/ -- Kimberly-Clark Corporation (NYSE: KMB) today reported second quarter 2021 results.\nExecutive Summary\nSecond quarter 2021 net sales of $4.7 billion increased 2 percent compared to the year-ago period, with an organic sales decline of 3 percent. Diluted net income per share for the second quarter was $1.19 in 2021 and $1.99 in 2020. Second quarter adjusted earnings per share were $1.47 in 2021 compared to $2.20 in 2020. Adjusted earnings per share exclude certain items described later in this news release. Diluted net income per share for 2021 is anticipated to be $6.00 to $6.50. The company is now targeting full-year 2021 organic sales decline of 0 to 2 percent and adjusted earnings per share of $6.65 to $6.90. The prior outlook was for organic sales growth of 0 to 1 percent and adjusted earnings per share of $7.30 to $7.55. The updated earnings outlook reflects significantly higher input cost inflation and lower sales volumes, partially offset by additional cost savings and reduced discretionary spending.Chairman and Chief Executive Officer Mike Hsu said, \"Our second quarter reflects 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. 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. We remain confident in our strategy and in our fundamental brand performance. Our personal care business is performing well, and we continue to improve our market positions in key markets and realize robust growth across Developing and Emerging Markets.\"\nHsu continued, \"We will continue to execute K-C Strategy 2022. While our updated outlook reflects a more challenging near-term environment, we are taking appropriate actions and remain confident in our strategies to create long-term shareholder value.\" \nSecond Quarter 2021 Operating Results\nSales of $4.7 billion in the second quarter of 2021 increased 2 percent versus the prior year. Changes in foreign currency exchange rates increased sales 3 percent and the net impact of the Softex Indonesia acquisition and ...

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