Kimberly-Clark has released its third quarter 2021 results. The manufacturer reported net sales of $5 billion, a 7 percent increase compared to the year-ago period, with an organic sales increase of 4 percent.
Diluted net income per share for the third quarter was $1.39 in 2021 and $1.38 in 2020. Third quarter adjusted earnings per share were $1.62 in 2021 compared to $1.72 in 2020. Diluted net income per share for 2021 is anticipated to be $5.15 to $5.60.
The company is now targeting full-year 2021 organic sales decline of 1 to 2 percent and adjusted earnings per share of $6.05 to $6.25. The prior outlook was for organic sales decline of 0 to 2 percent and adjusted earnings per share of $6.65 to $6.90. The updated earnings outlook reflects significantly higher input cost inflation.
“Our third quarter results reflect a dynamic and challenging macro environment. Our organic sales were strong, including double-digit growth in a number of our personal care markets and improving performance in tissue and our professional business. Market share performance also remained strong, demonstrating the strength of our innovation and excellent local commercial execution. Our earnings were negatively impacted by significant inflation and supply chain disruptions that increased our costs beyond what we anticipated. 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,” said K-C Chairman and CEO Mike Hsu.
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