financetom
Business
financetom
/
Business
/
Kimberly-Clark raises annual profit forecast, beats Q2 EPS on higher prices
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Kimberly-Clark raises annual profit forecast, beats Q2 EPS on higher prices
Jul 23, 2024 3:58 AM

July 23 (Reuters) - Kleenex tissue maker Kimberly-Clark ( KMB )

on Tuesday raised its forecast for full-year profit

after beating Wall Street estimates for second-quarter profit,

betting on higher prices and steady demand for its personal care

products.

Demand for Kimberly-Clark's ( KMB ) products including those for

skin health and hygiene held steady, as consumers grappling with

rising costs of living prioritized shopping for essentials and

helped in lifting its volumes.

The company continues to see resilient purchase patterns and

healthy volumes in its product categories without a lot of trade

down, said Chris Jakubik, head of Kimberly Clark's ( KMB ) investor

relations told Reuters.

Increased innovation in products and supply improvements

helped Kimberly-Clark ( KMB ) in lifting volumes by 3% in its personal

care business, a major revenue contributor, which dropped 3%

last year.

The company's overall volumes rose 1% in the quarter, while

its prices were up 2%.

For the full-year the company expects earnings per share to

grow at a mid-to-high teens percentage rate, up from the

previously expected low-teens percentage rate.

Benefits from increasing its prices to 6% in its personal

care business coupled with an 8% growth in organic sales helped

offset higher input costs such as manufacturing and supply-chain

related investments and expand its margins by 290 basis points

to 36.9%

On an adjusted basis, the Huggies diaper maker's profit of

$1.96 per share for the quarter ended June 30, topped analysts'

estimates of $1.71 per share, as per LSEG data.

However, due to retailer inventory reductions in North

America, its major revenue generating region, the company

maintained its annual organic sales forecast and posted

quarterly sales of $5.03 billion, missing analysts' estimates of

$5.10 billion.

It continues to project annual organic sales to grow at a

mid-single digit rate.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Coty misses quarterly revenue estimates on slowing demand for cosmetics
Coty misses quarterly revenue estimates on slowing demand for cosmetics
Feb 10, 2025
Feb 10 (Reuters) - Coty ( COTY ) cut its annual profit forecast on Monday after missing second-quarter revenue estimates on Monday, as it grapples with slowing demand for cosmetics in the United States and a tighter control of beauty inventory by retailers. Coty's ( COTY ) results come shortly after those of Elf Beauty and L'Oreal, which have flagged...
Musk-led group makes $97.4 billion bid for control of OpenAI, WSJ reports
Musk-led group makes $97.4 billion bid for control of OpenAI, WSJ reports
Feb 10, 2025
By Arsheeya Bajwa Feb 10 (Reuters) - A consortium led by Elon Musk offered $97.4 billion to buy the nonprofit that controls OpenAI, the Wall Street Journal reported on Monday, months after the billionaire sued the artificial intelligence startup to block it from transitioning to a for-profit firm. Musk's bid could ratchet up longstanding tensions between himself and OpenAI CEO...
Astera Labs Q4 Non-GAAP Net Income, Revenue Increase; Q1 Outlook Set -- Shares Drop
Astera Labs Q4 Non-GAAP Net Income, Revenue Increase; Q1 Outlook Set -- Shares Drop
Feb 10, 2025
04:20 PM EST, 02/10/2025 (MT Newswires) -- Astera Labs ( ALAB ) reported Q4 non-GAAP net income late Monday of $0.37 per diluted share, up from $0.12 a year ago. Analysts polled by FactSet expected $0.26. Revenue for the quarter ended Dec. 31 was $141.1 million, up from $50.5 million a year earlier. Analysts expected $127.9 million. For Q1, the...
Arch Capital Q4 Operating Income Falls, Revenue Rises
Arch Capital Q4 Operating Income Falls, Revenue Rises
Feb 10, 2025
04:18 PM EST, 02/10/2025 (MT Newswires) -- Arch Capital Group ( ACGL ) late Monday reported Q4 after-tax operating income of $2.26 per diluted share compared with $2.49 a year earlier. Analysts polled by FactSet expected $1.81. Net premiums written for the quarter ended Dec. 31 was $3.82 billion, compared with $3.26 billion a year earlier. Analysts expected $4.02 billion....
Copyright 2023-2026 - www.financetom.com All Rights Reserved