Business
Kimberly-Clark Announces Year-End 2019 Results And 2020 Outlook
DALLAS, Jan. 23, 2020 /PRNewswire/ -- Kimberly-Clark Corporation (NYSE: KMB) today reported year-end 2019 results and provided its 2020 outlook. Executive
About this update from Kimberly-clark Corporation
[{"type":"text","content":"DALLAS, Jan. 23, 2020 /PRNewswire/ -- Kimberly-Clark Corporation (NYSE: KMB) today reported year-end 2019 results and provided its 2020 outlook.\nExecutive Summary\nFourth quarter 2019 net sales of $4.6 billion were even with the year-ago period, while organic sales increased 3 percent. Full-year 2019 net sales of $18.5 billion were even with the year-ago period, while organic sales increased 4 percent. Diluted net income per share for the fourth quarter was $1.59 in 2019 and $1.18 in 2018. Full-year diluted net income per share was $6.24 in 2019 and $4.03 in 2018. Fourth quarter adjusted earnings per share were $1.71 in 2019, up 7 percent compared to $1.60 in 2018. Adjusted earnings per share exclude certain items described later in this news release. Full-year adjusted earnings per share were $6.89 in 2019, up 4 percent compared to $6.61 in 2018. The company's previous guidance was for adjusted earnings per share of $6.75 to $6.90. Net sales in 2020 are expected to increase 1 percent year-on-year, including organic sales growth of 2 percent. Diluted net income per share for 2020 is anticipated to be $5.95 to $6.65. Adjusted earnings per share in 2020 are expected to be $7.10 to $7.35. The company's Board of Directors has approved a 3.9 percent increase in the quarterly dividend, which is the 48th consecutive annual increase in the dividend. Chairman and Chief Executive Officer Mike Hsu said, \"Our fourth quarter results capped off a year of excellent progress at Kimberly-Clark. For the full year of 2019, we delivered 4 percent growth in organic sales and in adjusted earnings per share, both ahead of our original outlook for the year. We also achieved strong margin improvements, generated $425 million of cost savings and returned $2.2 billion to shareholders through dividends and share repurchases. At the same time, we launched innovations, pursued our growth priorities and increased our investments behind our brands and in capabilities to position us for longer-term success. Overall, I'm encouraged by our progress in the first year of executing K-C Strategy 2022.\"\nHsu continued, \"Looking ahead, our plan for 2020 is to deliver top- and bottom-line growth consistent with our medium-term financial objectives while continuing to increase our growth investments and allocate capital in shareholder-friendly ways. We remain very op...